GOLD Intraday Technical analysis 2011-12-12

The gold is currently testing the lower limit of its medium term bearish channel in 1684 suggesting a rebound. However a break of these levels would entail a bearish channel more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1684 with a 1st objective of 1695, then 1702. A break in 1681 would invalidate this scenario.