31st May 2012

UPDATE

How high the bonds?

Technical Fundamental

in association with

Disclaimer

Authorised and regulated by the FSA

How high the bonds?

Note US Treasury 10 Y ear COMP Continuous 149 148 147 146 145 144 143 142 141 140 139 138 137 136 135 134 133 132 131 130 129 128 127 126 125 124 123 122 121 120 119 118 117 116 115 114 113

US TNOTE WEEKLY CONTINUATION CHART

The weekly chart of the TNotes shows that the market is being driven by two triangles. The major triangle has a minimum move up to 144. The small one has a measured move up to 137.50 or so. There looks to be a good deal more to come in this rally.

in association with

131-30 High 128-22.5 High f rom Dec 2008

12 8-01 Hi gh fro m Nov 2 010

UPDATE Technical Fundamental

11 2-25 .5 L ow

112 111 110 109 108

^32

A M J J A S O N D 20 09 M A M J J A S O N D 20 10 M A M J J

A S O N D 20 11 M A M J J

A S O N D 20 12

A M J

J A

Euro Bu nd Con ti nu ous

13 4.77 Hi gh

11 9.86 L ow

11 8.48 Prio r Hig h Pi vo t

15 5 15 4 15 3 15 2 15 1 15 0 14 9 14 8 14 7 14 6 14 5 14 4 14 3 14 2 14 1 14 0 13 9 13 8 13 7 13 6 13 5 13 4 13 3 13 2 13 1 13 0 12 9 12 8 12 7 12 6 12 5 12 4 12 3 12 2 12 1 12 0 11 9 11 8 11 7 11 6 11 5 11 4 11 3 J A

BUND WEEKLY CONTINUATION CHART

The clear bull structure of the Bunds is evident in the way the market has ratcheted better on the support from Prior Highs. The consolidation on the support from the latest Prior High at 134.77 is a triangle ascending - whose measureable minimum move is up as far as 148. The bulls remain in charge.

Disclaimer

N D 20 08

A M J J A S O N D 20 09

A M J J A S O N D 20 10

A M J 10 9.66SL ow N D 20 11 J A O

A M J J A S O N D 20 12

A MJ

109.66 Low

in association with

UPDATE Technical Fundamental

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