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June T-bonds closed up 23-pts. At 162-24.

June T-bonds closed higher due to short covering on Friday as it consolidates some of Wednesday's decline. The high-range close sets the stage for a steady to higher opening when Monday'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 163-29 would confirm that a low has been posted. If June extends Wednesday's decline, the reaction low crossing at 158-19 is the next downside target. First resistance is April's high crossing at 166-21. Second resistance is the reaction high crossing at 168-11. First support is Wednesday's low crossing at 161-08. Second support is the reaction low crossing at 158-19.

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