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September T-bonds closed up 1-08/32's at 157-07.

September T-bonds closed higher on Friday as it extends this week's trading range. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 157-25 would confirm that a short-term low has been posted. If September renews the decline off August's high, the reaction low crossing at 153-13 is the next downside target. First resistance is the 20-day moving average crossing at 157-25. Second resistance is August's high crossing at 163-01. Second resistance is the 75% retracement level of the February-June-decline crossing at 163-24. First support is the reaction low crossing at 155-07. Second support is the reaction low crossing at 153-13.

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