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March T-bonds closed up 1-11/32's at 158-04.

March T-bonds closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 50-day moving average crossing at 158-29. If March renews the rally off November's low, November's high crossing at 160-26 is the next upside target. If March extends the decline off December's high, November's low crossing at 155-00. First resistance is November's high crossing at 160-26. Second resistance is October's high crossing at 164-09. First support is today's low crossing at 155-23. Second support is November's low crossing at 155-00.

March T-notes closed up 190 pts. at 128.315.

March T-notes closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 50-day moving average crossing at 129.196 are needed to confirm that a short-term low has been posted. If March extends this week's decline, July's low crossing at 127.090 is the next downside target. First resistance is December's high crossing at 130.045. Second resistance is November's high crossing at 130.175. First support is November's low crossing at 127.300. Second support is July's low crossing at 127.090.