I am watching 7400 as a potential breakout area. I believe if used correctly certain Fibonacci tools work in different situations, sometimes they are relevant, sometimes they arent. In this case, I am using the Fibonacci speed resistance fan. So far the price has followed this tool well. A rejection at 7400 would be bearish and move above would signal much more upside.
Neither bullish or bearish yet. Wanting to be reactive, not predictive