As we can see, on the weekly chart we are forming a full-fledged up-trend. We draw such a conclusion from the fact that after a long period when our lines showed a trendless gray color, they finally got a color. And, if we approach it purely formally (and, we have no reason not to do this), then we are now at the very beginning of an upward trend. In addition, a positive momentum is developing here. We come to this conclusion by watching the indicator that has just exited the consolidation (yellow rectangles and black circles).Additionally, we can observe the development of a full up-trend. This can be seen by the sequence of bullish highs and lows.