The recent move up in gold has created a lot of enthusiasm.
The problem from the bullish perspective is that the move up, as reasonably robust as it has been, has (so far) been nothing more than a backtest of a critical breakdown.
The support-turned resistance line in the arithmetic chart of gold below appears to be capping the move.
If the bulls can't muster the energy to renew their charge and take out that resistance line with conviction, the bears will likely not waste much time in testing the bulls' resolve.
At the time of writing on Monday, the bulls seemed to be lacking chutzpah.