Rapid Switch from Risk OFF to Risk ON Mode

Risk On is back on the market. No nukes were fired, no islands were bombed, no countries were invaded. That are the reasons why on risky assets we do have only a buy mode now and on the save heavens we can witness a correction.

SP500 reversed as it usually does – with a V shape pattern, leaving no occasion for those who hesitated. The price in the last week broke many important supports and now we are already back above vast majority of them. Sentiment is positive again.

Silver is now testing the 16,8 $/oz (ultra important) as a closest support. It was recently a resistance and as long as we are above that level, buyers can have a hope for a further upswing.

Gold is in a slightly better situation. Here we are now testing the 1273 $/oz support and the next, more important one is slightly lower so a breakout today should not change the sentiment into a negative one. As long as we stay above the 1263 USD/oz the buyers are in a better situation.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis