The ZB U.S. Treasury Bond Futures daily chart currently reflects a market in transition. Price action shows medium-sized bars and average momentum, indicating neither strong buying nor selling pressure. The short-term swing pivot trend has shifted to a downtrend, but the intermediate-term HiLo trend remains up, suggesting a possible pullback within a broader recovery phase. Resistance is established at 118.65625 and 117.375, while support is layered below at 115.53971 and further down to 109.31250, highlighting a wide range for potential price movement. Benchmark moving averages are mixed: the 5-day and 20-day MAs are in a downtrend, while the 10-day, 55-day, and 100-day MAs are trending up, and the 200-day is slightly down. This blend of signals points to consolidation and indecision, with the market potentially awaiting a catalyst for a decisive move. ATR and volume metrics are moderate, supporting the view of a market in balance rather than trending. Overall, the short-term outlook is neutral as the market digests recent gains and tests support. The intermediate-term remains bullish, supported by the uptrend in key moving averages and swing pivots. The long-term view is neutral, with no clear directional bias from the yearly session grid or major moving averages. Swing traders should note the potential for range-bound action and watch for a breakout above resistance or a breakdown below support to signal the next directional move.