Be careful on bonds?

The chart of the 10 year US yield shows that price made new low in December 06 on rising Macd.
This divergence finally gave the signal that a bottom had been reached.
It is interesting to note that this bottom pattern can be classified as an imperfect double bottom.
When the long term down-trendline was broken in the beginning of January, the buy signal was given.
The objective in the coming weeks according to the swing rule is above the 5% level.

The German Government bond yield also validates a double bottom pattern.The recent pull-back was succesful and the rally could now extend towards the 4.4% zone.

So, it seems that long term yields finally broke to the upside (reversal patterns) and establish a strong upward trend.