Paper Gold still poised to spill

This idea still focuses on the basics of price action and volume action. It is a bit repetitive because I have done similar posts so consider this an update to those posts.

• The blue and red trend lines show where the trend line went from support to resistance, which is bearish price action
  
• The black trendlines show divergence on the price action to OBV and OBV EMAs which is bearish volume action.
  
• The MFIis basically a hybrid RSI with volume action on the Money Flow Index with the 15 period look with bearish divergence
  
• The 15 MFI just crossed below the 50 which is a bearish if sustained. I currently think this ends when the 15 MFI goes below 30, maybe all the way below 20.
  

If we zoom into this current peak we see

• strong wicking action at the intersection of the falling black trendline and rising red trendline. That is pretty bearish in my book.
  
• The OBV slipped the 10 EMA and almost tested the 20 EMA as support. I expect we will shortly see a impulsive move down and the OBV will approach the 100 EMA.
  
• I further predict that the orange trendline price action is testing as support is going to be tested as resistance in dramatic fashion.
  
• There is still the potential for a head and shoulders in there.
  
  
  
  
  The 12h volume situation has
  
• falling volume in an acceding triangle.
  
• Price action is divergent on the MACD Histogram, which suggest that a sustained MACD-Signal cross will occur.
  
• RSI is divergent and it set highs outside the Bollinger band. I expect we will be wicking out of the 12h lower limit of the bollinger band. again here shortly.