GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview

TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

JUL WHEAT Resist: 559 3/4-563, 571-573 3/4 ST Trend: Sdwys/Up

(553 1/2) Supprt: 547-544 1/2, 539 1/2* Obj: 584 TRP: 539.50
Comment: Friday’s explosive rally highlights a bottoming / bullish upturn and projects rallies to press for a
breakout over the 584 1/2 swing high. A close over 563 will boost rallies. A close over 584 1/2 signals for a
larger bull drive to 609 1/4*. Monday’s pullback still hints for corrective congestion, but another sideways
day within Friday’s range will bull flag to provide a staging level for rallies. Only a close under 539 1/2*
marks a reversing turn.

JUL CORN Resist: 412, 417 1/2, 428, 435-440 ST Trend: Sdwys/Up
(405 1/4) Supprt: 398 1/4*-, 395, 390 1/2 Obj: None TRP: 387.50
Comment: Last week’s sharp rally signals a bottoming turnaround and projects a climbing bull swing back
against the last peaking congestion highs. A close over 417 1/2 alerts for a breakout and stronger emerging
bull trend that could push for 435. Corrective dips that hold 398 1/4* should stay lined up for rallies. A close
under 398 1/4* stalls upturn forces, likely driving harder setbacks, but only a close under 387 1/2* rekindles
a bear trend.

JUL SOYBEANS Resist: 1119, 1135, 1068+ ST Trend: Up

(1101) Supprt: 1084, 1070-1064, 1033* Obj: 1076 ACHD TRP: 1033.00
Comment: Last week’s breakout provides bull signals and signals for driving rallies to 1135 and 1168.
Trade is poised for sharp advances. Be prepared for another day of corrective consolidation, but stabilizing
action around previous highs at 1076 and 1064 1/2 will help promote advances. A close under 1057 1/2 is
near term negative and should drive pullbacks to stage a test of 1033*, challenging for a reversing turn
back to lower levels.

JUL SOYMEAL Resist: 350+/-, 361, 374*+/- ST Trend: Up

(34500) Supprt: 33770, 33220-32950* Obj: None TRP: 319.70
Comment: The market is powering the bull breakout rallies into an accelerating run with an upside swing
object against 374* long term resistance. Stable action over the last 33720+ high will encourage rallies.
Another 1-2 flagging congestion days that hold off 32950* will quickly setup a staging level for rallies. Only
a close under 32950* alerts for a multi-day correction phase.

JUL BEAN OIL Resist: 3876, 3930, 4000+/-? ST Trend: Up

(3799) Supprt: 3765+, 3759-55, 3648* Obj: 3930 TRP: 36.48
Comment: The market is showing a bull breakout over the January swing high which in turn creates a bull
swing objective to 3930+. Stable action over the previous 3765 high will help promote rallies. A close over
3930 could send trade into a blow off run over 4000+. Minor congestion should setup for rallies and only a
close under 3648* alerts for a reversal and multi-day retraction.

JUN CATTLE Resist: 8262-70, 8310*, 8370 ST Trend: Sdwys/Down

(82325) Supprt: 8175, 8100- Obj: None TRP: 83.10
Comment: The market remains in a bear trend with last week’s rejection from 8310* keeping trade poised
for selloffs. A drop under 8175 should resume selloffs to drive a test against old basing lows at 8100-79975.
A rebound over 8270 stalls expected selloffs, but a close over 8310* is needed to mark a reversal turn into
a correction phase that could power a run to reach the downturn gap at 8405-55.

JUN HOGS Resist: 6565, 6675-6700, 68025* ST Trend: Down

(65025) Supprt: 6440, 6372-40?, 6100-5950 Obj: 6100-? TRP: 68.025
Comment: The dramatic selloff last week still puts trade in position for washout selloffs. The long term
charts suggest the next level of significant support is down at 6100-5950. Corrective rebounds stopped by
last Thursday’s gap will quickly give way to continuation selloffs. A close over 6675 is needed to trigger
corrective rebounds back up to test 68025* for a bottoming turn.

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 GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview
TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

JUN B-POUND Resist: 15150?, 153, 15475 ST Trend: Sdwys/Up

(15086) Supprt: 14970, 14904-14870* Obj: 15300 TRP: 146.89
Comment: The market is signaling a bullish upturn / breakout over the last swing high. Stable action over
15067 is bullish should spark a larger bull drive to 153. If trade stalls over 15067, be ready for a slip to
consolidation just under 150-. However, a few sideways days should provide a staging level for rallies. Only
a close back under 14870* voids yesterday’s breakout and sends dips to test key 14689* support for a
larger bear turnover.

JUN CANADIAN$ Resist: 8551, 8620?, 8680 ST Trend: Up

(8515) Supprt: 8424-15, 8399, 8316* Obj: 8480 ACHD TRP: 83.16
Comment: The market is short term bullish, signaling a breakout over the January highs, opening up the
formation to sharp rallies to 8680 and potential at 8750+. Stable action over 8508+ will help spark
continuation rallies. Any corrective dips will find bull forces trying to hold trade to tight congestion over
8400+. A slip under 8399 is negative, but only a close under 8316* triggers a peaking turnover.

JUN EURO Resist: 13412*, 13515-21, 13642+ ST Trend: Sdwys/Up

(13339) Supprt: 13306, 13210, 13142* Obj: 13412 ACHD TRP: 130.93
Comment: Current rallies signal a short term reversing upturn, with rallies fostering a test of resting
resistance at 13412*. A close over 13412* projects a larger bull run to 13550-13600. The stall against
13412* warns for a slip into a couple sideways flagging congestion days as trend forces shift to the upside.
However, only a close under 13093* alerts for a return to bear trending action.

JUN J-YEN Resist: 10168, 10220-40, 10305* ST Trend: Sdwys/Down

(10111) Supprt: 10050-, 9990- Obj: None TRP: 103.05
Comment: Last week’s slide signals a bear turnover, warning for secondary selloffs to test back against the
last swing low basing levels under 9900-. A close under 9985 projects a drop to the last low. We may see
further rebounds and shift to sideways stabilizing congestion. Bear forces should check rally attempts just
over 102 for a few days. Only a close over 10305* highlights a turn back to bottoming / bull trending moves.

JUN SWISS Resist: 8920+, 8980, 9065 ST Trend: Sdwys/Up

(8882) Supprt: 8831, 8780-60, 8726* Obj: 8945+ TRP: 87.26
Comment: The market is suggesting a shift in the trend bias to the upside. Look for attempts to climb
against the March swing high. A close over 8958 implies a bull extension to 9065. A drop off under 8760
damages the bull alignment and should prompt reactionary setbacks. However, only a close under 8726*
marks a reversal turnover to send declines back under 8600-, testing the last swing low.

JUN AUSSIE$ Resist: 7465, 7525, 7585? ST Trend: Up

(7403) Supprt: 7353, 7310-7290, 7220 Obj: 7398 ACHD TRP: 71.51
Comment: The trend is up, attacking over the December swing high. Sustained action over 7398 should
spark rallies to 7525 and holds potential for a climbing moves beyond 7700+. If trade struggles to extend
over 7398, then be alert for a reactionary dip to sideways trade around 7300. A drop under 7220- is needed
to void the breakout and send setbacks against the 7151* to test for top.

JUN US DOLLAR Resist: 8462, 8495-8503, 85845* ST Trend: Down

(84165) Supprt: 8370-8365, 83145- Obj: 8360- TRP: 85.845
Comment: The market is bearish and targets selloffs back against the March swing low. Sustained action
under 8365 should promote selloffs. A close under 83145 is bearish. Any corrective flagging action will
likely struggle to retrace over Monday’s high and quickly flag for selloffs. However, only a close over 85845*
marks a reversing turn back to higher prices.

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 GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview
TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

JUN EURODOLLR Resist: 9906-09, 9916-21 ST Trend: Sdwys/Up

(9909) Supprt: 9899, 9893*, 9885* Obj: None TRP: 98.85
Comment: The market is bullish with yesterday’s surge higher leaving trade poised for rallies. A close over
9909-10 calls for a larger emerging bull trend to drive against the 9921 January swing high. If trade stalls
up around 9910, be ready for a slip to additional sideways trade along 9904-00. A close under 9893* is
needed for a near term peaking/reversing turnover and selloff back to 9885*.

JUN T-NOTES Resist: 12106-08, 12115, 122+/- ST Trend: Down

(120275) Supprt: 12017-, 12008-11931 Obj: None TRP: 122.18
Comment: The market is bearish, extending down from bear sloping congestion. Trade is poised for follow
through selloffs to attack under the 12024 minor low. A close under 12024 alerts for a wash to 120-. Any
corrective action should remain contained inside last Wednesday’s range if bear forces have control. A
close over 12218* is needed to secure a reversing / bottoming turn.

JUN T-BONDS Resist: 12222, 12308-10, 12406*-10 ST Trend: Down

(12213) Supprt: 12126-21, 121 Obj: 12116 TRP: 127.27
Comment: The market is negative and retains a bear target to 12116. A close under 12116-12 could
prompt a wash near 120. Corrective consolidation that stays contained by previous congestion lows at
12304+ will retain bear forces and quickly resume the pressing bear wave. A close over 12406* is needed
to reverse near term trade for a retracement back near 12716-12727*.

JUN S&P Resist: 906-910, 926-937 ST Trend: Up

(90280) Supprt: 888-, 88210, 87355* Obj: 906 TRP: 841.60
Comment: The market formation is bullish, accelerating trade for a spike at 906+. A close over 910 alerts
for a larger bull run that could stretch for 940+. However, be on guard for rallies to struggle extending past
906-910 which may trigger corrective dips back into Monday’s rally. A close under 87355* alerts for a
reversing turn and reactionary selloffs back under 850-. However, only a close under 84160* alerts for a
multi-week top / downturn.

JUN DOWJONES Resist: 8410+, 8516, 8700+ ST Trend: Up

(8382) Supprt: 8267, 8181, 7990* Obj: 8410 TRP: 79.90
Comment: The market is bullish, pushing up from rising congestion and calling for rallies to 8410. Powering
a close over 8410-8482 could send trade into a spiking run to 8700+. Any corrective dips should fight to
hold around last week’s upturn levels near 8140 to maintain the breakout. A close under 7990* is needed
for a reversing turn to send selloffs back through congestion and test back under 7700-.

JUN NASDAQ Resist: 144775, 148000-150200 ST Trend: Up

(142725) Supprt: 142700-142400, 138100 Obj: 148000 TRP: 1348.25
Comment: The market is bullish and on the verge of accelerating to spike to the 148000+ target. A close
over 143600 or push past 144775 will help spark rallies. We could see 1-2 corrective days back into
Friday’s inside day without hurting bull forces. A drop under 138100 cautions for setbacks back along
136000-. However, only a close under 134825* marks a peaking turnover.

JUN MIN-RUSSEL Resist: 50850-51050, 54000+/- ST Trend: Up

(50290) Supprt: 48800-48550, 47845* Obj: 50870 TRP: 478.45
Comment: The market is bullish, stretching rallies to attack the 50870 January high. A close over 51050
alerts for a stronger bull wave that could run near 54000. If trade struggles to extend over 50870+, then be
alert for corrective congestion back through Monday’s range. However, setbacks should fight to hold
Friday’s sideways day. A close under 47845* alerts for a peaking turnover.

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 GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview
TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

JUN GOLD Resist: 91310, 92030*-92990* ST Trend: Sdwys

(90040) Supprt: 99240-88990, 88620*-88010 Obj: None TRP: 886.20
Comment: The market remains caught in sideways congestion. However, Mon-Tuesday’s push higher
signals a positive shift by congestion and positions for a recovery swing to attack key 92990* resistance. A
close over 92990* is bullish and projects climbing moves to 950+. If rally attempts are blunted by 92030*-
92990*, be ready for a reactionary selloff back under 900-. A close under 88620* remains the trigger for a
bear turn, and selloffs down against previous congestion lows.

JUL SILVER Resist: 13515, 1365+/-, 139050 ST Trend: Sdwys/Up

(1337) Supprt: 13007-1298, 12632* Obj: None TRP: 1263.2
Comment: Rebounding rallies suggest a reversing turn and targets a quick extension to 1365 as well as
potential for a larger climbing upswing to 1395-1431. If trade struggles to hold over 1298, be prepared for a
slip to sideways trade inside Monday’s range for 1-2 days, but only a close under 12632* highlights a turn
to bearish trade. Stable action over 1300+ will promote rallies.

JUL COPPER Resist: 211, 21820-220, 22415 ST Trend: Sdwys/Up

(20705) Supprt: 20695*, 20060* Obj: 226 TRP: 200.60
Comment: The market is showing a short term upturn in the formation and calls for a secondary drive
against the last swing high. A close over 221 creates a bull swing extension to 226. Tuesday’s outside bear
day hints for corrective dips, but setbacks should only last 1-2 days and likely flag off 20695* to setup for
rallies. Only a close under 20060* signals a flip back to bear trending trade.

JUN CRUDE OIL Resist: 5475-83, 5579-5632 ST Trend: Up

(5414) Supprt: 5316, 5220-5199, 5168* Obj: 5473 ACHD TRP: 49.81
Comment: The market is bullish, signaling for rallies to drive against the last congestion highs. A thrust over
the 5483 could be enough to fuel an attack of previous highs. A close over 5610 is bullish, creating a bull
swing target to 5830. Any corrective dips should use a 1-2 day consolidation to bull flag for continued
rallies. Only a close under 5168* reverses the upturn to pressure a pullback to test 4981* for a larger bear
turnover.

JUN HEAT OIL Resist: 14435, 14736+, 151-15364 ST Trend: Sdwys/Up

(14275) Supprt: 140-13920, 13766, 13485* Obj: 14910 TRP: 134.85
Comment: Monday’s thrust higher signals a bottoming upturn with trade using the congestion of the past
two weeks as a base to stage climbing rallies into the upper 140’s. A close over 14907 signals for pressing
rallies to attack the late March swing high. Any corrective dips should fight to hold just under 140- and only
a close under 13485* marks a reversal turn back to bearish trade.

JUN RBOB Resist: 160+/-, 16520, 172+/- ST Trend: Up

(15879) Supprt: 15540-15496, 153, 15068* Obj: 16520 TRP: 145.17
Comment: The market is bullish, triggering a breakout from a month and half congestion and creating a bull
swing target to 16520 as well as potential into the low 170’s. Trade is poised for rallies and stable action
over the previous 15626 high will help spark advances. A close under 15068* is needed to void the
breakout and turn trade into a sustained correction.

JUN NATRL GAS Resist: 3776*, 3895-3916, 4230 ST Trend: Sdwys/Down

(3311) Supprt: 3595, 3438*, 3300-3250 Obj: None TRP: 37.76
Comment: The market is still in the bear trend, but trade has rebounded off 3250 support and poised to test
key 3776* resistance for a stronger bottom. A close over 3776* secure a bottoming turn and projects a
multi-day retracement back through congestion to reach up around 4000-4200. Any secondary dips should
fight for support at 3438*. A close under 3438* cautions for another drop against the 3251 low. However,
only a close under 3200 rekindles bear trending moves.

GRI 259 Middaugh Rd. Clarendon Hills, Illinois USA 60514 Phone: (630) 986-8683
 GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview
TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

JUL SUGAR Resist: 1530-1550, 1580-1599 ST Trend: Up

(1515) Supprt: 1479-70, 1461, 1442* Obj: 1530+ TRP: 13.93
Comment: The market is bullish, extending breakout rallies out of the past couple month congestion and
targets to 1530. A close over 1540-1550 alerts for a run at old weekly chart resistance highs at 1580-1599.
If trade stalls at the 1530+/- target, be prepared for flagging action back into the upper half of last Friday’s
rally to consolidate gains. Flagging action within Friday’s range will build for advances. A close under 1442*
is needed for a reversing turn and multi-day pullback.

JUL COFFEE Resist: 126, 12705-35, 130+ ST Trend: Up

(12465) Supprt: 12330, 122+/-, 12065* Obj: 12550 TRP: 118.05
Comment: The market is bullish, powering a breakout over recent corrective highs and signaling for rallies
against the 12735 late January swing high. Trade is poised for rallies today. A close over 12735 is bullish
and confirms a larger advance over 130+. Suspect resistance up against the January peaking level on the
first test that will prompt corrections inside yesterday’s range. Dips that stabilize over 12065* will quickly bull
flag to setup for advances. A close under 12065* alerts for a drop to 11805*.

JUL COCOA Resist: 2396-2414*, 2444, 2470 ST Trend: Down

(2377) Supprt: 2338, 2300-, 2260- Obj: 2260 TRP: 25.20
Comment: The market is bearish, trying to extend declines to 2260. Trade contained below 2414* will stay
setup for continuation selloffs. A press under 2300- is negative. A close under 2240 targets selloffs to 2190-
. Minor corrective rebounds should find resistance against 2414*. A close over 2414* is needed to signals a
reversal turnaround that will drive rebounding rallies back over the 2476 minor congestion high.

JUL COTTON Resist: 5832, 5900+/-, 6157* ST Trend: Up

(5805) Supprt: 5740-, 5675-59*, 5516* Obj: 6157 TRP: 55.16
Comment: The market is bullish, lifting accelerating rallies into blow off action that could stretch to the
6157* weekly resistance point. Trade is poised for continuation rallies and the momentum of the drive
should prompt any 1-2 day correction to quickly bull flag to prepare for additional rallies. Only a close under
5659* hurts the drive and pressures setback to attack 5516*, challenging for a larger top or corrective
setback.

GRI 259 Middaugh Rd. Clarendon Hills, Illinois USA 60514 Phone: (630) 986-8683
 GLOBAL RESEARCH & INVESTMENTS Daily Technical Overview
TOOLS FOR TECHNICAL TRADERS U.S. May 6, 2009

SHORT-TERM OUTLOOK
by Global Research & Investments

JUN NATRL GAS: Longs at 3360 should risk 3359 Stop. The objective is 4075.

JUN B-POUND: Longs at 14736-00 should risk 14749 Stop. The objective is 15600+.

JUL RBOB: The Gas triggered a bull breakout over the congestion of the past month and half, suggesting
the start of a larger emerging bull advance into the summer. We may see corrective setbacks to test
around the breakout levels, but stable action off the low 150’s should trigger a sustained climb to higher
prices. Consider buying at 15102 OB and risk 14549 Stop or a close under 14639. The objectives are 172
and 184-187.

*Abbreviation/Terms: ACHD = Achieved ST = Short Term TRP = Trend Reversal Point. A close beyond
the TRP will change the short term trend direction **Special Note about Close/Last Price = The settlement
value found in ( ) is now based on either the close or last price at the time comments are written for
publication.

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STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE A COMMODITY ACCOUNT MAY
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