PLS chart, page-3920

charting can be very useful but it also has its weaknesses.

you mention FA - the critical piece of FA today is that SP forecasts for a number of lithium miners in the US were upgraded on Friday and SP’s followed.

this of course is not factored into the historical data that you use in the chart

But a simple heuristic fairly early in the morning showed it was as obvious as a dogs balls that it was going to keep going up strongly today:

last night the buy to sell ratio in the line up was 3.6M to 6.5M

in the premarket .8M to 1M came on, that alone indicated that it would probably go up as a lot of the sellers that come on in the the morning line up at 2.40, 2.50

the ratio of new buyers to sellers in the lineup quickly changed to more new buyers than new sellers and it wasn’t long until the absolute numbers of buyers was greater than sellers.

a huge change from the mornings 3.6 to 6.5M

these people in the line up provide the support for the bulls to press forward and absorb the little daily retraces.

buying pressure - a great heuristic!