Monthly Oscillator Chart
Gold has been on a bull run and doubled since it's bottom in October 2008. The rise continues despite the continuous negative divergence in the oscillators. Gold as we know does not by itself appreciate in value.The rise in value of gold is relative to other factors. As of now the rise is due to a weak USD, renewed sovereign concerns in the European periphery, inflation pressures and rises in oil prices.Till this scenario does not ease, gold will be in demand.
Technically, 1307, the last swing low on monthly charts, should be a good support and stop loss for longs.A buy on dips strategy will pay off well over the next three to five years.Just the reason why I have analysed only the monthly charts.
More insight about the fundamentals of Gold can be read in the post by Nishit Wadhavkar here http://money-ma
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Happy Trading !!