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December T-bonds were lower overnight as it consolidates some of the rally off November's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 50% retracement level of the August-October-decline crossing at 140-28 is the next upside target. Closes below the 20-day moving average crossing at 138-17 would temper the near-term friendly outlook. First resistance is Tuesday's high crossing at 140-09. Second resistance is the 50% retracement level of the August-October-decline crossing at 140-28. First support is the 20-day moving average crossing at 138-17. Second resistance is November's low crossing at 136-24.

December T-notes was lower in overnight trading as it consolidates some of the rally off November's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 75% retracement level of the August-October-decline crossing at 119.266 is the next upside target. Closes below the 50-day moving average crossing at 118.151 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the August-October-decline crossing at 119.130. Second resistance is the 75% retracement level of the August-October-decline crossing at 119.266. First support is the 50-day moving average crossing at 118.151. Second support is November's low crossing at 117.225.

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