Gold Prices on Track for a Three-Day Losing Streak

The precious metal is trading lower as price action is on track for a three-day losing streak.

The declines come following the Doji pattern that emerged on the daily chart on Monday.

The continuation lower could see prices testing the 1850 level of support more firmly. This could potentially stall the declines for the moment.

However, if price breaks down below the 1850 handle, then we expect to see room for further correction.

To the upside, any rebound will stall near the 1900 level of resistance.

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