Today's intraday and daily charts and shift in the buy and sell...

Today's intraday and daily charts and shift in the buy and sell queues (buys climbed to 9m and sells fell to 11m - from 16m) give us a potential reversal pattern. My short term intraday prediction for tomorrow and the next day are as follows. Buy points marked in green and sells marked in red:



The daily chart shows a potential morning star (bullish doji star) formed today which indicates a potential reversal of the recent retrace:



My expected rising channel is marked in with forecast price range in pink (ignore the orange and yellow as that relates to the US Li basket prediction for today) and gives a range of 59 - 62. If going down it is the previous channel with range in blue / purple of 53 - 57. I expect it to be the rising channel however.

We need to see the US overnight numbers from the US Lead basket, whichg if rising will make this prediction very likely, but if not I think the odds are still in favour of the rise tomorrow. Note we are well below the expected reversal point (marked C on the daily chart) and thus overdue for a respite from the retrace.