ZW Chicago SRW Wheat Futures Daily Chart Analysis: 2026-May-07 07:10 CT

Price Action

• Last: 613.50,
• Bars: Large,
• Mom: Fast.

WSFG Weekly

• Short-Term
• WSFG Current: -63%
• F0%/NTZ' Bias: Price Below,
• WSFG Trend: Down.

MSFG Month May

• Intermediate-Term
• MSFG Current: -40%
• F0%/NTZ' Bias: Price Below,
• MSFG Trend: Down.

YSFG Year 2026

• Long-Term
• YSFG Current: 35%
• 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 606.75,
• 4. Pvt. Next: Pvt High 641.75,
• 5. Levels R: 1211.25, 1165.50, 1042.50, 1041.00, 986.50,
• 6. Levels S: 606.75, 575.75, 572.75, 530.25, 515.00, 509.50.

Daily Benchmarks

• (Short-Term) 5 Day: 632.00 Down Trend,
• (Short-Term) 10 Day: 633.75 Down Trend,
• (Intermediate-Term) 20 Day: 610.25 Up Trend,
• (Intermediate-Term) 55 Day: 602.25 Up Trend,
• (Long-Term) 100 Day: 571.25 Up Trend,
• (Long-Term) 200 Day: 559.75 Up Trend.

Additional Metrics

• ATR: 51,
• VOLMA: 77996.

Recent Trade Signals

• 06 May 2026: Short ZW 07-26 @ 613.75 Signals.USAR.TR720
• 05 May 2026: Short ZW 07-26 @ 626.5 Signals.USAR-MSFG
• 05 May 2026: Short ZW 07-26 @ 626.5 Signals.USAR.TR120
• 05 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-WSFG

Overall Rating

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

Key Insights Summary

Price is trading back below the weekly and monthly session fib centers after a sharp rejection from the early-May swing high near 671.50, leaving the daily structure in a clear short-term corrective phase. The pivot picture has flipped to DTrend with the next lower pivot reference centered near 606.75, while the longer HiLo structure remains constructive enough to keep the broader year trend positive. The 5- and 10-day benchmarks are rolling over above price, reinforcing near-term weakness, while the 20-, 55-, 100-, and 200-day benchmarks remain aligned in an upward long-cycle backdrop. Recent trade signals are stacked to the short side across short-, intermediate-, and long-term trigger sets, matching the current selloff from the April/May peak and the broader pattern of lower highs after the breakout attempt. The chart is showing a fast momentum downswing with wide daily bars and elevated activity, but the larger uptrend from the winter base and spring advance still frames the market as a bullish long-term trend currently in a bearish retracement phase.