The oil officially entered the bearish market. Next target - $30

Oil has officially entered the bearish market after its fall yesterday. Poll Siana from Bank of America Merrill Lynch, commented in an interview with CNBC that based on graphics, oil may be headed for a level of $30 a barrel. These are levels unprecedented since April last year.
According to the technical analyst, the depreciation of oil can in practice serve as a rally for the bond markets. There is a backward movement between bond prices and oil, so if this dependence continues, the depreciation of oil can lead to a rise in bond prices.
In addition, stocks may also be in trouble if the price of oil falls. While there is no direct correlation between the potential oil depreciation and index levels, such a decrease could potentially exacerbate a possible correction for the indices.
Not very positive is the situation for oil and on the basis of a fundament. In fact, demand for oil may drop in the summer.
Since the beginning of the year, the price of oil has fallen by 19%, mainly due to increased US stocks and OPEC's inability to limit supply.
US crude oil traded at levels of 43.50 earlier this morning.