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December T-bonds closed down 1-23/32's at 118-05.

December T-bonds closed higher on Friday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening when Monday's day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50% retracement level of this year's decline crossing at 120-17 is the next upside target. Closes below the 20-day moving average crossing at 115-02 would signal that a short-term top has been posted. First resistance is today's high crossing at 118-10. Second resistance is the 50% retracement level of this year's decline crossing at 120-17. First support is the 20-day moving average crossing at 115-02. Second support is the 50-day moving average crossing at 112-27.

December T-notes closed up 275-pts. at 110.105.

December T-notes closed higher on Friday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50% retracement level of this year's decline crossing at 120.17. Closes below the 20-day moving average crossing at 108.204 would signal that a short-term top has been posted. First resistance is today's high crossing at 110.140. Second resistance is the 50% retracement level of this year's decline crossing at 111.246. First support is the 20-day moving average crossing at 108.204. Second support is the 50-day moving average crossing at 107.216.

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