Cup and handle pattern on the move index

Arc patterns are very powerful and it looks to me like we have a potential set up here where the move index could be gearing up for a big move up. If the cup and handle plays out as expected it would indicate that the move index will go up once the handle forms fully, by about 30 to reach the expected target. This is drawn on the rain of the move index. The price is another matter. It looks like it is in a descending expanding wedge which should break to the upside if traditional in nature. Arrows indicate my targets. Trade it as you see fit. It is bearish for bonds in my opinion but the movements up and down can possibly be traded. As with any volatility instrument it is difficult to use but high volatility indicates large movements in price. Traditional trading is to trade the range so go long on support lines and short at resistance. Other than that I can only wish you good luck!