We start with the German index. The chart has calmed down a lot, and it won’t stay that long as the market doesn’t like places where things remain “unexplained”. You can see that the current consolidation seems to start to narrow a little. We are waiting for a strong move because at the current level it is evident collecting orders. The last week of the month was a strong downward move, so investors use the beginning of the month to collect as many orders as possible in order not to change the price too much for themselves.
What for this week? What is in the picture. The range is still real, shown at the bottom with a cross. In the event of breaking the resistance over the line that they have already tried to break once, we enter long positions.
There is nothing much to write about. The plan from last week is still valid. Only so far a box has been built during consolidation. This formation may herald the continuation of the previously formed movement. In such a situation, the place of the break marked with a cross will be a breakout of resistance with a possible range such as the previous fall.
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