MBCC Trading Highlights 4th October'22 - Why are we rallying and how far can it go? Is Silver a buy here or just one massive short squeeze? Oil - is it opec or more $ here?

As we started the week with rumours that a big bank/institutions would go bust, namely Credit Suisse or Deutsche Bank, the fact that we did not get any bust ups, the market rallied hard holding onto the key 3600 market support as shown above, which is also the key 200 weekly moving average – as we mentioned a very big support level that would need additional further news in the near term to break below. But the market cant have it both ways, it cannot rally because they feel the Fed has tightened too much/something about to break, because if it does rally, then the Fed would surely be compelled to keep on going as things don't look too bad. It is the classic chicken and egg scenario!