XAU/USD INTRADAY MONDAY 17 MAY 2022

Fibbo H1 100% level is on resistance combined with BB44 upper band at 1828-33 area. Therefore a high risk sell can be obtained at this point. A drop towards 1812-15 is likely to happen first as 61.8% fibbo level and BB44 mid band is serving as support. If it brakes then we might visit 1797-93 former SNRs. On the other hand price may bounce back from 61.8% level to visit 183x-185x zone to reverse the bullish trend from bearish. However price needs to close on daily basis (D1 TF) within this zone to get a higher jump towards 1870 again.

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Three White Soldiers spotted at H4 TF that confirms a reversal at least half of it down or more.