GOLD Intraday Technical analysis 2011-11-07

Gold is currently testing the upper limit of its medium term bullish channel in 1779 suggesting a decline. However a break of these levels would initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1779 with a 1st objective of 1789, then 1792. A break in 1777 would invalidate this scenario.