a breakdown of the 6 month channel

"On the yearly chart, gold is near its trading high, and on the 6-month chart, it's near a support floor. There's a high probability of the support breaking."
Here's a slightly more formal way to phrase it, which might be used in a trading context:
"On the annual timeframe, gold is trading close to its resistance peak, while the 6-month chart shows it nearing a support level. The likelihood of this support being breached is quite high."