GOLD Intraday Technical analysis 2011-11-22

Gold is currently testing the intermediate resistance of its medium-term bearish channel in 1684 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1704.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1684 with a 1st objective of 1695, then 1704. A break in 1681 would invalidate this scenario.