The ZW Chicago SRW Wheat Futures daily chart shows a market under pressure in the short and long term, with both the weekly and yearly session fib grids trending down and price trading below their respective NTZ/F0% levels. The short-term swing pivot trend is down, confirmed by a recent pivot low at 522.25 and a series of lower highs, while resistance is stacked above at 532.56, 534.75, 547.75, 550.50, and 555.00. Support is seen at 522.75, 517.25, and 492.25, suggesting the market is testing key levels after a recent sell-off. Moving averages reinforce this bearish bias in the short term, with both the 5-day and 10-day benchmarks trending down and price below these levels. However, the 20-day and 55-day MAs are still in uptrends, indicating some intermediate-term resilience or a possible consolidation phase. The 100-day and 200-day MAs remain firmly bearish, highlighting persistent long-term weakness. ATR and volume metrics indicate moderate volatility and healthy participation, but the recent trade signals show a shift from a short-term long to a new short, reflecting the prevailing downward momentum. Overall, the market is in a corrective or pullback phase within a broader downtrend, with potential for further downside unless key resistance levels are reclaimed. The technical structure suggests swing traders should remain attentive to support breaks and resistance tests, as the market could either continue its decline or attempt a short-term bounce within the current range.