Petaquilla Minerals Ltd PTQMF

metals

[Libertyg]

Gold, silver, oil have all committed to rally. Today's close will be interesting. If they can't hold these levels and breakdown then we have no follow through from the low volume after market price jumps.I strongly believe Oil is destined to back track to the 85.00 level minimum. In my "opinion" Gold and silver have more downside if they can't hold these levels today and were to give up the gains. I added two silver contracts at 35.11 to the short side as i see a potentially strong down move as very possible, it's risky but a calculated risk with an exit strategy. Gold needs to recapture the 1520.00 range and hold it, and silver needs to recapture the 36.00 range and hold. A retest of the lows would be very negative today if we closed down there or below, it would warn of a potential coming breakdown to next support. Oil looks like a bull trap today, we'll see but i would in no way go long oil today at this price, very dangerous, or go long metals until they prove they can hold up, a strong close today would help. If like me you believe the metals are an excellent long term investments i would be patient yet. Better to buy back at slightly higher prices with better confirmation we are out of the woods.

PTQ needs to reclaim .70 cents with some volume. Today's volume is weak and doesn't offer strong evidence we are ready to go until we see some volume support the price.