Hold your cup be carefully!

FX:XAUUSD   Gold Spot / U.S. Dollar
78 0 0
My preference: Long positions above 1255 with targets @ 1260 & 1274 in extension.
Alternative scenario: Below 1248 look for further downside with 1240 & 1230 as targets.
Comment: We see that the gold             finds daily resistance in the area 1250/53 and it is still not doing a certain break. It looks that the gold             has created a “cup and handle” formation. Maybe this is a good opportunity to try a long position.
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