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March T-bonds closed up 31/32's at 160-17.

March T-bonds closed higher on Friday as it extends the rally off January's low. 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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, October's high crossing at 164-09 is the next upside target. Closes below the 20-day moving average crossing at 157-21 would confirm a short-term top has been posted. First resistance is today's high crossing at 160-28. Second resistance is October's high crossing at 164-09. First support is January's low crossing at 155-05. Second support is November's low crossing at 155-00.

March T-notes closed up 145-pts. At 130.075.

March T-notes 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 130.175 is the next upside target. Closes below the 20-day moving average crossing at 129.030 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 130.120. Second resistance is November's high crossing at 130.175. First support is January's low crossing at 128.050. Second support is December's low crossing at 127.290.