Wow.
Just look at that congestion of more than a week at around 12500 - 12750. Finally the indecision of the market traders has 'temporary' ended with a final decision that the bears have a 'temporary' edge.

12750 still stand as the ultimate barrier for the bull if they were to stand out in this market. Without penetrating that level of resistance, there's no way the bulls are going to stage a show.

The immediate up-slope-ascending support is now penetrated, showing signs of weaknesses of the bulls to continue further.

From my point of view, I believe that the bulls have been trying to hold hard on their positions for the past few days, hoping that the 12750 resistance could be penetrated seeing the uptrend momentum is slowly building up. That's why we see a bunch of doji (white circle) congested around that area.

Slowly, everyone is getting impatient, and the market doesn't seem to be doing what they really want. Finally, everyone decided to take profit yesterday, and that's what the long red candle that we saw.

Next immediate resistance will be ~12150???
Hopefully.
And if that happens, we would see a consolidation again around that trading range of 12150 - 12750 for another couple of days/weeks to come. That would be a great trading opportunity for the swing traders to buy the dips and sell the highs, vice versa.