Can this round of range-bound consolidation hold? Honestly, it's pretty critical right now.

If it really breaks down, then we'll have to look at the 86 and 83 levels—those are more obvious support areas. That said, this current position isn't hopeless either, since we can see capital slowly accumulating.

Personally, I think we'll get some clarity from this afternoon to tonight, and we'll see if the bulls still have the strength to hold things up. Short-term traders should keep a close eye on it and not miss any key signals.