Chicago SRW Wheat Futures (ZW) continue to exhibit pronounced weakness across both short- and intermediate-term timeframes. Price action is subdued, with small bars and slow momentum, reflecting a lack of strong buying interest and a persistent downward drift. Both the Weekly and Monthly Session Fib Grids (WSFG, MSFG) show price trading well below their respective NTZ/F0% levels, confirming a dominant downtrend. Swing pivot analysis reinforces this, with both short-term and intermediate-term trends in decline, and the next key support at 501.50. Resistance levels remain stacked well above current price, highlighting the depth of the recent selloff. All benchmark moving averages from 5-week to 200-week are trending down, further confirming the prevailing bearish structure. The most recent trade signal was a short entry, aligning with the broader trend. However, the yearly session grid (YSFG) shows a slight positive reading and price above the yearly NTZ, suggesting some potential for stabilization or a longer-term base forming, but this is not yet reflected in the shorter timeframes. Overall, the technical landscape remains bearish in the short and intermediate term, with no clear signs of reversal. The market is in a prolonged downtrend, with lower highs and lower lows dominating the chart. Any countertrend rallies have been short-lived, and the path of least resistance remains to the downside until a significant shift in momentum or structure occurs.