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March T-bonds closed up 1-08-(32nds) at 168-10.

March T-bonds closed higher on Thursday as it extends the rally off November's low. Profit taking tempered early-session gains and the mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 170-26. Second resistance is unknown. Closes below the 20-day moving average crossing at 161-25 are needed to confirm that a short-term top has been posted. First support is the 10-day moving average crossing at 164-03. Second support is the 20-day moving average crossing at 161-25.

March T-notes closed up 0.145-(32nds) at 131-305.

March T-notes closed higher on Thursday as it extends the rally off November's low. Profit taking tempered early-session gains and the low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, weekly resistance crossing at 133.250 is the next upside target. Closes below the 20-day moving average crossing at 129.183 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 133.015. Second resistance is weekly resistance crossing at 133.250. First support is the 10-day moving average crossing at 130.178. Second support is the 20-day moving average crossing at 129.183.

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