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Our reports are issued by and on behalf of ‘Charmer Charts’ and Technical Analysis Reports Ltd. No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth therein are based on assumptions that may not be correct or otherwise realised. The reports are designed for information purposes only and neither the information contained therein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives. The reports are issued without regard to the recipient’s specific investment objectives and the value of any security, or the income derived from it, may fluctuate. Certain securities and/or transactions give rise to substantial risks and are not suitable for all investors. Investors must undertake independent analysis with their own legal, tax and financial advisers and reach their own conclusions regarding the economic benefits and risks of the security described herein and the legal, credit and tax aspects of any anticipated transaction. Where a security is denominated in a currency other than the local currency of the recipient, changes in exchange rates may have an adverse effect on the value of the security. Past performance is not necessarily a guide to future performance. Technical Analysis Reports Ltd, its Officers, employees and affiliates may have a financial interest in the security or securities described in this report or otherwise buy, make markets in, hold trade or sell any security or securities described herein or provide services to issuers discussed herein. The security or securities mentioned therein may not be eligible for sale in some jurisdictions and may not be suitable for all types of investor. The reports are only intended for issue to Professionals; it is not intended for issue to Retail Clients. The reports are strictly confidential and are intended for the named recipient or recipients only. They may not be circulated or copied to any other party without the express permission of Technical Analysis Reports Ltd. All rights reserved. The reports comply with Technical Analysis Reports Ltd Policy on the management of conflicts of interest in research. A copy of this Policy is available on request from Technical Analysis Reports Ltd Compliance Department. Technical Analysis Reports Ltd. Company Number: 6874769. Tel +44208123798. www.technicalanalysisreports.com