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March T-bonds closed down 2/32's at 151-06.

March T-bonds closed slightly lower on Tuesday. The mid-range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 151-16 would temper the near-term bearish outlook. If March renews this month's decline, January's low crossing at 148-30 is the next downside target. First resistance is the 25% retracement level of the July-December-decline crossing at 153-29. Second resistance is the 38% retracement level of the July-December-decline crossing at 157-16. First support is January's low crossing at 148-30. Second support is December's low crossing at 147-04.

March T-notes closed down 10/32's at 124-215.

March T-notes closed lower on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the decline off February's high, January's low crossing at 123.180 is the next downside target. If March renews the rally off December's low, the 38% retracement level of the July-December-decline crossing at 126.057 is the next upside target. First resistance is the 38% retracement level of the July-December-decline crossing at 126.057. Second resistance is the 50% retracement level of the July-December-decline crossing at 127.105. First support is January's low crossing at 123.180. Second support is December's low crossing at 122.145.

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