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March T-bonds closed up 4-pts. At 145-15.
March T-bonds closed higher on Thursday as it consolidated some of the decline off last Thursday's high. The high-range close sets the stage for a steady to higher opening when Friday's night trading begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last Thursday's high, February's low crossing at 143-25 is the next downside target. Closes above last Thursday's high crossing at 147-25 are needed to confirm that a short-term low has been posted. First resistance is last Thursday's high crossing at 147-25. Second resistance is the reaction high crossing at 150-19. First support is February's low crossing at 143-25. Second support is the 50% retracement level of the 2014-2015-rally crossing at 142-23.