The ZW Chicago SRW Wheat Futures weekly chart shows a market that remains under significant downward pressure in both the short- and intermediate-term timeframes, as indicated by the prevailing downtrends in the WSFG and MSFG grids, as well as the swing pivot trends. Price is currently below the key NTZ (neutral trading zone) levels for both the weekly and monthly session grids, reinforcing the bearish bias. The most recent swing pivot is a high at 618.57, with the next projected pivot low at 501.25, suggesting the market could retest lower support if selling resumes. All benchmark moving averages from 5-week to 200-week are trending down, confirming persistent long-term weakness, though the yearly session grid trend has turned up, hinting at a possible early-stage base or recovery attempt. Recent trade signals show both long and short entries in close succession, reflecting choppy, indecisive price action and potential for short-term countertrend bounces within a broader downtrend. Resistance levels are stacked above, with 618.57 and 687.75 as immediate hurdles, while 501.25 is the key support to watch. Overall, the market is still dominated by bearish momentum in the short and intermediate term, with only tentative signs of stabilization on the long-term horizon. Price action remains volatile and prone to sharp reversals, typical of a market searching for a durable bottom after an extended decline.