Gold (GOLD) has stabilized with an upward bias during recent intraday trading.

The price is attempting to break through the main and psychological resistance at $3,000.

This move is supported by trading within a short-term ascending price channel and continuous positive momentum from trading above its 50-period simple moving average, along with the formation of a complementary bullish chart pattern—the symmetrical triangle.

 

However, negative signals from the RSI have emerged as it reaches overbought territory, which is tempering the upward move by prompting profit-taking.

 

We expect gold’s price to rise in the upcoming sessions, particularly if it manages to break the $3,000 resistance level.

Once this resistance is breached, the next target will be the initial resistance at $3,020.