ZW Chicago SRW Wheat Futures Weekly Chart Analysis: 2026-Feb-23 07:15 CT

Price Action

• Last: 531.98,
• Bars: Medium,
• Mom: Momentum slow.

WSFG Weekly

• Short-Term
• WSFG Current: -5%
• F0%/NTZ' Bias: Price Below,
• WSFG Trend: Down.

MSFG Month Feb

• Intermediate-Term
• MSFG Current: 92%
• F0%/NTZ' Bias: Price Above,
• MSFG Trend: Up.

YSFG Year 2026

• Long-Term
• YSFG Current: 23%
• F0%/NTZ' Bias: Price Above,
• YSFG Trend: Up.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: DTrend,
• (Intermediate-Term) 2. HiLo Trend: UTrend,
• 3. Pvt. Evolve: Pvt High 582.00,
• 4. Pvt. Next: Pvt Low 501.25,
• 5. Levels R: 1609.50, 1234.00, 985.20, 878.00, 715.00, 582.00,
• 6. Levels S: 501.25.

Weekly Benchmarks

• (Intermediate-Term) 5 Week: 533 Down Trend,
• (Intermediate-Term) 10 Week: 552 Down Trend,
• (Long-Term) 20 Week: 620 Down Trend,
• (Long-Term) 55 Week: 780 Down Trend,
• (Long-Term) 100 Week: 890 Down Trend,
• (Long-Term) 200 Week: 1286 Down Trend.

Recent Trade Signals

• 18 Feb 2026: Long ZW 05-26 @ 551.75 Signals.USAR-WSFG
• 18 Feb 2026: Long ZW 05-26 @ 551.75 Signals.USAR.TR120

Overall Rating

• Short-Term: Bearish,
• Intermediate-Term: Bullish,
• Long-Term: Bearish.

Key Insights Summary

The ZW Chicago SRW Wheat Futures weekly chart shows a market in transition. Price action remains subdued with slow momentum and medium-sized bars, reflecting a lack of strong conviction. The short-term trend is bearish, as indicated by the WSFG trend and the prevailing downtrend in the 5- and 10-week moving averages. However, the intermediate-term outlook is more constructive, with the MSFG trend up and the HiLo swing pivot trend also up, suggesting a potential for a counter-trend rally or at least stabilization above recent lows. Long-term structure remains bearish, with all major moving averages (20, 55, 100, 200 week) trending down and price well below these benchmarks. Key resistance levels are stacked far above current price, while the next significant support is at 501.25. Recent trade signals have triggered long entries, hinting at possible short-term mean reversion or a bounce attempt, but the broader context remains heavy. The market is likely in a basing or consolidation phase after a prolonged decline, with volatility compressing and traders watching for either a breakdown to new lows or a more sustained reversal attempt.