In the article “Key
Price Levels to Watch for in Gold Bullion,” Cekerevac notes that the
economic situation continues to deteriorate worldwide.
Cekerevac believes that the data will continue to be weak,
and additional monetary stimulus from several of the world’s central banks will
come shortly: “This should drive gold bullion prices higher near the end of the
Cekerevac points to recent comments by Eric Rosengren, who
is the Federal Reserve Bank of Boston President.
“He commented that the central bank should enact open-ended
quantitative easing,” says Cekerevac. “He also suggested the Federal Reserve
should boost this monetary stimulus program by a substantial magnitude.”
There are several crucial levels for investors in gold
bullion to keep an eye on, according to Cekerevac.
“One should note the 38.2% retracement level at approximately $1,635, which has been both support and resistance for gold bullion,” Cekerevac states. “Naturally the 200-day moving average in gold bullion will also serve as resistance.”
Cekerevac believes that once these levels have been
breached, the next level to watch will be $1,700, followed by a re-test of the
“These moves will most likely coincide with news that the Federal Reserve has enacted additional monetary stimulus,” says Cekerevac.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.
was among the first (back in late 2006) to predict that the U.S. economy would
be in a recession by late 2007. The daily e-letter correctly predicted the
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rode the bear market rally from a Dow Jones Industrial Average of 6,440 on
March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
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Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit .