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March T-bonds closed up 1-11-pts. at 130-04.

March T-bonds closed higher on Tuesday as they extend the rally off October's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 March extends the rally off November's low, the 50% retracement level of the August-November decline crossing at 130-25 is the next upside target. Closes below the 20-day moving average crossing at 125-27 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 130-09. Second resistance is the 50% retracement level of the August-October decline crossing at 130-25. First support is the 10-day moving average crossing at 128-02. Second support is the 20-day moving average crossing at 125-27.

March T-notes closed up 130-pts. at 114.085.

March T-notes closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 20-day moving average crossing at 112,318 would signal that a short-term top has been posted. If March extends the rally off October's low, the 50% retracement level of the August-November decline crossing at 115.090 is the next upside target. First resistance is the 50% retracement of the August-October decline crossing at 115.090. Second resistance is the 62% retracement of the August-October decline crossing at 116.232. First support is the 20-day moving average crossing at 112.318. Second support is the 50-day moving average crossing at 112.009.

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