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March T-bonds closed up 8/32's at 158-27.

March T-bonds closed higher on Wednesday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, December's high crossing at 160-12 is the next upside target. Closes below the 20-day moving average crossing at 157-09 would confirm a short-term top has been posted while opening the door for a possible test of January's low crossing at 155-05. First resistance is January's high crossing at 159-19. Second resistance is December's high crossing at 160-12. 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 5-pts. At 129.180.

March T-notes closed lower on Wednesday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews 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 128.295 are needed to confirm that a short-term top has been posted. First resistance is January's high crossing at 130.060. Second resistance is November's high crossing at 130.175. First support is December's low crossing at 127.290. Second support is July's low crossing at 127.090.