The Norway Goverment Pension Fund is going to liquidate some Oil & Gas positions. Top 10 Holdings include NYSE:XOM NYSE:CVX NYSE:COP NYSE:EOG NYSE:SLB NYSE:OXY NYSE:MRO NYSE:PSX NYSE:VLO and NYSE:APC.
NYSE:APC was the worst performer of 2018
The Fund holds about 2 % of Shares, and want to liquidate. If $40.50 breaks...
Triangle Pattern detected here post last 100 bucks pump, if this breaks up first target is 3900 ish, break down scenario target is 3730 ish.
Theres a possibility of price ranging between 3800 - 3860 for a couple days before a significant move.
OANDA:XAUUSD is getting ready to break up, forming an ascending triangle at Weekly TF.
Daily entries around 1280-1290 a couple of weeks ago (Golden Cross shown at chart), and today another signal show up at 1315 after breaking 2nd flag.
There is weakness in the semiconductor market, $NVDA has recently been underperforming peers, ASX:ASX, NASDAQ:INTC, NASDAQ:ATOM.
The mayority of ratios are not good either, P/S, P/E, EV/EBITDA are way over Industry Average.
Weak cryptocurrency demand of chips
Suspension of test drives for driverless vehicles
Here is my view of the so called "Bitcoin Bubble".
Disclaimer: this may not be the end of corrective wave 3-4, market sentiment could push the price down to 3200 - 3400 zone before starting wave 5, a couple of days will tell. Levels in the chart.