The next 4-5 days look pretty interesting with this upper low, however, there are some concerns. The upper low is forecast to become quite tightly packed and mobile. The problem with this is that the surface features will be somewhat left behind and the trough looks to consistently sit 100-150km ahead of the better shear. There should be plenty of instability, it really just depends if the shear comes to the party. If it does not, not only will there be slower moving storms, it will also mean the previous convection may not clear sufficiently to allow new convection to develop. This will be even more evident over the next 48-60hrs if the upper low moves west as forecast as it is going to leave cloud in its wake (to the east where the surface trough is).
But on the optimistic side, if a few small things change (which often do in these closed low situation), the shear could push out from the low, clear the cloud and leave some nice, unstable, very nicely sheared storms.
Macca