ZB U.S. Treasury Bond Futures Daily Chart Analysis: 2026-Jul-23 07:10 CT

Price Action

• Last: 109-16,
• Bars: Medium,
• Mom: Fast.

WSFG Weekly

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

MSFG Month Jul

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

YSFG Year 2026

• Long-Term
• YSFG Current: NA%
• F0%/NTZ' Bias: Price Below NTZ,
• YSFG Trend: Bearish.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: DTrend,
• (Intermediate-Term) 2. HiLo Trend: UTrend,
• 3. Pvt. Evolve: Pvt low 109.16,
• 4. Pvt. Next: Pvt high 111.12500,
• 5. Levels R: 114.62500, 112.31250, 111.87500, 110.62500, 109.37500,
• 6. Levels S: 109.00000, 108.03125, 105.50000.

Daily Benchmarks

• (Short-Term) 5 Day: 110.6875 Down Trend,
• (Short-Term) 10 Day: 110.8750 Down Trend,
• (Intermediate-Term) 20 Day: 111.90875 Down Trend,
• (Intermediate-Term) 55 Day: 112.1250 Down Trend,
• (Long-Term) 100 Day: 113.0875 Down Trend,
• (Long-Term) 200 Day: 114.15025 Down Trend.

Additional Metrics

• ATR: 29,
• VOLMA: 450837.

Overall Rating

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

Key Insights Summary

Price is extending a fast downside swing into the 109-16 area after rejection from the late-June recovery high near 114-20. The short-term pivot structure remains in DTrend, while price is below the weekly and July monthly fib-grid value areas and below every benchmark average. The intermediate HiLo structure remains UTrend, reflecting the broader swing range, but the current decline has produced lower highs and a decisive break beneath the 20-day and 55-day averages. The 109-00 pivot support is the immediate structural reference, with 111-04 to 112-10 representing the nearest overhead pivot and moving-average congestion. Volume is moderating following the recent selloff and ATR has eased from prior highs, indicating a still-directional decline with reduced day-to-day expansion.