GOLD Intraday Technical analysis 2011-10-10

 

Gold is currently testing the intermediate support of its medium term bullish channel in 1628 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1601.
According to previous events, the market indicates a bullish opportunity on the levels of 1628 with a 1st objective of 1645, then 1650. A break in 1625 would invalidate this scenario.