Immediate fundamentals look bearish, ... Weather seems very mild and inventory levels are high.
More Quotes from Tony Nunan:
Last time, the market could handle uncertainty as there was a lot of slack but now because prices are so high, the market is not equipped to handle unplanned events.Tony Nunan
Commodity-related funds remain in demand because the fundamentals remain the same -- we have strong economic growth in Japan, the United States and China that is going to drive up demand, while spare refining capacity remains limited.
Tony Nunan
Iran's nuclear plans will continue to pose a threat. It may shun foreign investment in its oil facilities.
Tony Nunan
Overall big picture is the market is still strong,
Tony Nunan
The market has gone up so much and so quickly. This is a technical correction. This is just profit-taking ahead of the weekly statistics.
Tony Nunan
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