I'm out. I'm about to end the day, but first: a pre-Brexit analysis. From D1 chart [Pic 1], we can see that the bear trend that is started since 13 Mar seems to meet its end on 23 Mar. However, the inability to break support cleanly (12032) begs a question. What happened these past 4 days? Is it a reversal, or just a retracement after all?
Recall the reversal at the end of Feb and beginning of Mar. There's a decisiveness once the market realize that we have a change in trend. But not now.
If we look closer in the current trend, there's some interesting phenomena [Pic 2]. First, it's clear that there's very little interest on level 12000 and above. It is also suggested that the movements on the level below 12000 are accompanied by drastic, increasing activity. Today's movement may provide a hint: we have bear wave with explosive volume, and there's a bull riposte with clearly decreasing activity. One therefore may suspect: is this an indication that traders (or, as Wyckoff may say, Composite Operator) are building their position in the lower limit of the channel? What is its implication in our preparation against Brexit announcement tomorrow?
I hypothesize that this is indeed an indication of traders preparing for bullish trend (accumulation phase as per Wyckoff, or the head & shoulder pattern as per Schabacker), which may proven true once the resistance at 12032 is broken. In this view, one has to be very careful if price break 11928, as it could be just a spring, a test to see if there's anymore seller.