The oil market has been beaten down by a price war with Russia and Saudi Arabia fighting the US. As the output has not been reduced we can still see lower prices and on top of that, the demand in the economy due to the virus outbreak is diminishing.
Yet, we see Oil at historically low levels even if the price would go lower towards the USD 11.00 area, which could still happen.
The possible upside though is tremendous and hence we bought at 24.33 with open SL and TP at USD45.00
