Market Wrap - Stock Pick - stop loss on oil

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Viv Govender from Rand Swiss Offshore is taking a stop loss on oil as his stock pick of the day.

"I'm cutting my bet on oil, I was betting on oil because of the protection on the downside and a huge long term upside if something happens with the middle east and Iran but I have seen some analysis this week that has scared me about the oil price. The scenario that really worries me is what happens if China goes out and starts to ignore US sanctions against oil from Iran, we would see oil prices fall around $10-$20 from that point of view and that is a huge downside risk that I wasn't taking into account."
7 Aug 2019 2AM English South Africa Business · Business News

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