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March T-bonds closed up 11/32's at 144-11.

March T-bonds closed higher due to short covering on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, weekly support crossing at 140-03 is the next downside target. Closes above the 20-day moving average crossing at 146-09 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 144-19. Second resistance is the 20-day moving average crossing at 146-09. First support is Monday's low crossing at 143-04. Second support is weekly support crossing at 140-03.

March T-notes closed up 50/32's at 120-195.

March T-notes closed higher due to short covering on Friday as it consolidates some of the decline off the 2017-highs. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this winter's decline, weekly support crossing at 119.170 is the next downside target. Closes above the 20-day moving average crossing at 121.129 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 121.129. Second resistance is the 50-day moving average crossing at 122.236. First support is Thursday's low crossing at 120.010. Second support is weekly support crossing at 119.170.

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