GOLD Intraday Technical analysis 2011-10-27

Gold is currently testing the intermediate support of its medium-term bullish channel in 1720 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1710.
According to previous events, the market indicates a bullish opportunity on the levels of 1720 with a 1st objective of 1730, then 1735. A break in 1718 would invalidate this scenario.