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June T-bonds closed up 1/32's at 179-00.

June T-bonds closed slightly higher on Wednesday while extending the April-May trading range. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the April 14th low crossing at 177-14 would confirm a downside breakout of the aforementioned trading range. Closes above the April 22nd high crossing at 183-02 are needed to confirm an upside breakout of the aforementioned trading range. First resistance is the April 22nd high crossing at 183-02. Second resistance is the March 12th high crossing at 184-07. First support is last-Tuesday's low crossing at 177-26. Second support is the April 14th low crossing at 177-14.

June T-notes closed up 15-points at 139.000.

June T-notes closed higher on Wednesday while extending the April-May trading range. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, March's high crossing at 140.240 is the next upside target. Closes below the 50-day moving average crossing at 138.156 are needed to confirm that a short-term top has been posted. First resistance is the April 21st high crossing at 139.220. Second resistance is March's high crossing at 140.240. First support is the 50-day moving average crossing at 138.156. Second support is the April 7th low crossing at 137.160.