The gold bulls were strong out of the gate to start 2020 but have quickly faded. Last week’s spike high of $1,613.30 is strong overhead resistance for the bulls to overcome in the near term. Look for sideways and choppy action in the near term, until bulls can store up enough energy to push prices above last week’s high. Bulls do still have the overall near-term technical advantage amid a price uptrend that remains in place on the daily bar chart. Stay tuned!–Jim