GOLD Intraday Technical analysis 2011-12-05

The gold is currently testing the upper limit of its medium term bearish channel in 1761 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1761 with a 1st objective of 1775, then 1780. A break in 1758 would invalidate this scenario.