February gold futures prices Monday scored a record high of $2,152.30 and then promptly reversed course to sell off sharply and score a technically bearish “key reversal” down on the daily bar chart. That’s one chart clue the bulls are out of gas and that a near-term market top is in place. The bulls still have the overall near-term technical advantage. Prices are in a two-month-old uptrend on the daily bar chart. My bias is that gold prices will trade in choppy fashion between $2,000 and $2,100 for the next few weeks—barring an unexpected geopolitical shock that would prompt keen safe-haven demand for gold and silver. Stay tuned! Jim Wyckoff