Petaquilla Minerals Ltd PTQMF

RE: RE: RE: RE: RE: Gold Up $30 to $1560

[Libertyg]

Gold has broken the 1520.00 support. Silver the 42.00 support, and now the 39.00 area if broken lends to the possibility of 31.00 area. Gold to 1480.00 area as next possibility. Regardless we are in a correction in the metals. Egypt began the run, and now we have an intermediate change in sentiment. I doubt this will be over until at least early to mid June at best. Preferably both metals correct and then consolidate into the September/October time frame forming a nice base. If so it would stabilize the metals with a cooling off period for the next and most rewarding leg to come over the following several years. I would view this as a very healthy event that prevents a blow off parabolic end move. This also gives the juniors and explorers the opportunity to have their day with a healthy long term trend in the metals continuing.

Silver is the definition of high volatility. It can and does overshoot to both the up and downside. I direct you to 2008 when silver ran to 21.00 and corrected back to 8.50 before it finally based. Now we ran to a hair of 50.00 and it is not out of the realm of possibility to correct to 17.00 - 20.00, although i wouldn't count on it, that is still more than possible and still allows for a long term bull market to resume once completed. I would watch for this correction to hit 37.00, 31.00, 28.00, 25.00, as all possible end points as well as the 17.00 - 20.00 in the end. Gold also has the ability to correct as low as 1050.00 - 1150.00 on the lower end extreme. Usually the initial sharp drops are the most extreme so we'll see how far they want to go. Gold much more stable as i warned than silver during these moves.

PTQ broke the low .80's and a weak close two day now in the .70's. I would think possible support at .73 area, and if they were to break we could see .60, then .50 the break out retest. We still haven't seen the equities in a real correction and if that were to happen next then the mining shares would most likely have to suffer as well. This is worth consideration as maybe the last great buying opportunity may be upon us in the resource sector. Oil as well could correct back to the mid .80.00 level also benefiting us consumers and the oil and gas stocks. Nat gas looks to be in a bottoming period and one more correction in oil could offer a screaming buying opportunity in Nat gas, and oil related stocks.

Use these corrections to sift through the rubble for excellent buys.