GOLD Intraday Technical analysis 2011-11-01

Gold is testing the intermediate resistance of its medium-term bullish channel in 1728 suggesting a decline . However a break of these levels would allow it to reach the upper limit of its channel to 1757.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1728 with a 1st objective of 1738, then 1740. A break in 1726 would invalidate this scenario.