gold approaching pivot point.

Well the next few days will be interesting. Gold has been trading sideways for the last few days but is approaching the upper trend channel of the short term downward trend.

Its also been bouncing off the $1600 support level. Breaking $1600 could see a fall to the next resistance level of $1500.
If it can break the upper trend channel and push though $1700 it may be moving nth again.
Sorry work computer and cant put up a chart.

Thoughts? Markets have had a little rally but think it will be short lived??