GOLD Intraday Technical analysis 2011-12-14

The spot rate approach to the intermediate resistance of its medium term bearish channel in 1647 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1750.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1647 with a 1st objective of 1660, then 1665. A break in 1645 would invalidate this scenario.