Watching Y on the daily

Been keeping an eye on $Y over the last few sessions, and that 847.79 level is really starting to look like a critical pivot. We've seen it act as both support and resistance pretty consistently over the past few weeks. On the daily, the recent price action around 847.62-847.9 is creating a very tight range, almost a coiling effect. I'm leaning towards the idea that a break above 848.00 on any significant volume could signal a move higher, perhaps towards the 855 area, given the lack of substantial overhead resistance there. The flip side, of course, is that a convincing close below 847.50 would invalidate that scenario for me, suggesting we could retest the lows from last month around 840. The volatility feels compressed, which often precedes a larger move, one way or the other.