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June T-bonds closed down 10-pts. At 154-03.

June T-bonds closed lower on Friday. The mid-range close sets the stage for a steady opening when Tuesday's night trading begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 155-26 are needed to confirm that a low has been posted. If June renews this spring's decline, the 62% retracement level of the 2014-2015-rally crossing at 149-02 is the next downside target. First resistance is the 20-day moving average crossing at 155-26. Second resistance is the reaction high crossing at 157-12. First support is last Tuesday's low crossing at 151-04. Second support is the 62% retracement level of the 2014-2015-rally crossing at 149-02.

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