The UB Ultra U.S. Treasury Bond Futures weekly chart continues to reflect a dominant bearish structure across all major timeframes. Price action is subdued with medium-sized bars and slow momentum, indicating a lack of strong directional conviction but a persistent downward bias. The Weekly Session Fib Grid (WSFG) and Yearly Session Fib Grid (YSFG) both show price below their respective NTZ/F0% levels, reinforcing the prevailing downtrend. The Monthly Session Fib Grid (MSFG) offers a slight countertrend uptick, but this is not enough to offset the broader bearish context. Swing pivot analysis confirms a short-term and intermediate-term downtrend, with the most recent pivot high at 119.46875 and the next key support at 111.84375. Resistance levels are stacked well above current price, suggesting significant overhead supply. All benchmark moving averages from 5-week to 200-week are trending down, further validating the long-term bearish outlook. Recent trade signals show mixed short-term activity but ultimately align with the dominant downward trend. The market remains in a corrective or consolidative phase within a larger bearish cycle, with lower highs and lower lows defining the structure. Volatility is moderate, and the lack of strong bullish catalysts keeps the risk of further downside intact. The technical landscape suggests that rallies are being sold into, and any countertrend moves are likely to be short-lived within the prevailing downtrend.