GOLD Intraday Technical analysis 2011-10-28

Gold is currently testing the upper limit of its medium term bullish channel in 1752 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bearish opportunity on the levels of 1752 with a 1st objective of 1740, then 1735. A break in 1755 would invalidate this scenario.