GOLD Intraday Technical analysis 2011-12-06

The gold is currently testing the intermediate support of its medium term bearish channel in 1692 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1640.
According to previous events, the market indicates a bullish opportunity on the levels of 1692 with a 1st objective of 1705, then 1715. A break in 1689 would invalidate this scenario.