The ZW Chicago SRW Wheat Futures daily chart shows a strong short-term and intermediate-term uptrend, with price action breaking decisively above key resistance levels and the monthly/weekly session fib grids. Large bullish candles and fast momentum indicate aggressive buying, likely fueled by a combination of technical breakout and possible seasonal or news-driven catalysts. The swing pivot structure confirms an uptrend, with the most recent pivot high at 563.00 and the next potential reversal at 525.00, suggesting a wide range for potential retracement. All short- and intermediate-term moving averages are trending up, supporting the bullish case, while long-term averages remain in a downtrend, highlighting that the broader trend is still bearish and this move may be a countertrend rally within a larger down cycle. Volatility is elevated (ATR 51), and volume remains robust, confirming strong participation in the current move. The recent short signal from late October has been invalidated by the sharp rally, emphasizing the importance of trend reversals and breakout confirmation in swing trading. Overall, the market is in a bullish phase short- and intermediate-term, but long-term context remains bearish, so traders should be attentive to signs of exhaustion or reversal as price approaches major resistance levels.