GOLD Intraday Technical analysis 2011-11-09

Gold is currently testing the lower limit of its medium term bullish channel in 1784 suggesting a rebound. However a break of these levels would release a large potential of drop and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1784 with a 1st objective of 1794, then 1798. A break in 1782 would invalidate this scenario.