ZW Chicago SRW Wheat Futures Daily Chart Analysis: 2026-May-05 07:10 CT
Price Action
- Last: 636.50,
- Bars: Large,
- Mom: Fast.
WSFG Weekly
- Short-Term
- WSFG Current: -5%
- F0%/NTZ' Bias: Price Below,
- WSFG Trend: Down.
MSFG Month May
- Intermediate-Term
- MSFG Current: -10%
- F0%/NTZ' Bias: Price Below,
- MSFG Trend: Down.
YSFG Year 2026
- Long-Term
- YSFG Current: 43%
- 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 Low 631.75,
- 4. Pvt. Next: Pvt High 664.75,
- 5. Levels R: 1211.25, 1165.50, 1042.50, 1041.00, 988.50,
- 6. Levels S: 631.75, 575.75, 572.75, 530.25, 515.00.
Daily Benchmarks
- (Short-Term) 5 Day: 645.25 Down Trend,
- (Short-Term) 10 Day: 621.75 Up Trend,
- (Intermediate-Term) 20 Day: 613.75 Up Trend,
- (Intermediate-Term) 55 Day: 600.75 Up Trend,
- (Long-Term) 100 Day: 569.50 Up Trend,
- (Long-Term) 200 Day: 559.50 Up Trend.
Additional Metrics
- ATR: 64,
- VOLMA: 89110.13.
Recent Trade Signals
- 05 May 2026: Long ZW 07-26 @ 647.75 Signals.USAR.TR120
- 04 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-WSFG
- 04 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-MSFG
Overall Rating
- Short-Term: Bearish,
- Intermediate-Term: Neutral,
- Long-Term: Bullish.
Key Insights Summary
Wheat is coming off a sharp reversal from the 670 area and is now trading back inside the upper half of the broader 2026 uptrend. The short-term structure has flipped to a bearish pivot state with price below the weekly and monthly fib grids, while the intermediate and long-term benchmark averages remain in rising alignment, showing the larger trend is still constructive despite the recent selloff. The chart is in a volatile retracement phase with large bars, elevated ATR, and a fast momentum reset. The recent rejection from the 671.50 resistance zone, followed by the drop toward the 631.75 pivot support area, highlights a test-and-reject swing sequence after a strong rally leg. The broader picture still reflects higher-timeframe trend strength, but near-term action is choppy and headline-sensitive, with price cycling between breakout extension and mean reversion around the May and April session zones.
Chart Analysis ATS AI Generated: 2026-05-05 07:10 for Informational use only, not trading advice. Terms and Risk Disclosure Copyright © 2026. Algo Trading Systems LLC.