XAU/USD INTRADAY WEDNESDAY 01 JUNE 2022

Fibbo H1 indicates an upward movement and the last candle also closed as bullish. Even then it is not advisable to enter a buy at this point it will be a High risk buy even price is at 0.0% level. There are several resistances within a close price range of 1848-53 as 50.0% Sma200 BB44 Mid band and finally the golden number 61.8%. So neither a sell is advisable nor a buy at any point on first day of the month. Un till and un less the momentum shows a clear direction. However a medium risk sell at 1848-53 can be considered provided the momentum slows down at that area.