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March T-bonds closed up 1-09-pts. At 151-22.
March T-bonds closed higher on Friday extending this winter's rally. The high-range close sets the stage for a steady to higher opening when Monday's night trading begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, monthly resistance crossing at 152-21 is the next upside target. Closes below the 20-day moving average crossing at 148-30 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 151-24. Second resistance is monthly resistance crossing at 152-21. First support is the 20-day moving average crossing at 148-30. Second support is last Thursday's low crossing at 147-12.