I am watching the daily close today carefully. If it pushes up and closes above 7800 (weekly level + 0.236 Fib) it is still bullish in my view. If it drops down, the next support is ~7400 (prev consolidation, Fib 0.382 and a daily level).
There is no reason to turn bearish just yet. It is also possible that the price stays in the current tight range for a while, 7700-7800 and that also does not invalidate the bullish rally.
If we break this range it is not a disaster but I will be looking to reduce my spot exposure and look for short setups. If we break below 7400 than we break the bullish market structure (higher highs, higher lows) and then we are in the bear phase again.
