ZB U.S. Treasury Bond Futures Daily Chart Analysis: 2026-Sep-28

Price Action

• Last: 104:08,
• Bars: Large,
• Mom: Fast.

WSFG Weekly

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

MSFG Month Sep

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

YSFG Year 2026

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

Swing Pivots

• (Short-Term) 1. Pvt. Trend: DTrend,
• (Intermediate-Term) 2. HiLo Trend: DTrend,
• 3. Pvt. Evolve: Pvt low 104:08,
• 4. Pvt. Next: Pvt high 108:09,
• 5. Levels R: 132:28, 131:14, 128:30, 127:20, 125:28,
• 6. Levels S: 104:01.

Daily Benchmarks

• (Short-Term) 5 Day: 106:05 Down Trend,
• (Short-Term) 10 Day: 106:18 Down Trend,
• (Intermediate-Term) 20 Day: 107:12 Down Trend,
• (Intermediate-Term) 55 Day: 108:18 Down Trend,
• (Long-Term) 100 Day: 110:00 Down Trend,
• (Long-Term) 200 Day: 112:00 Down Trend.

Additional Metrics

• ATR: 9.00,
• VOLMA: 504812.

Overall Rating

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

Key Insights Summary

ZB is in a broad, synchronized decline: price has broken decisively beneath the September MSFG range and is trading below every benchmark average from the 5-day through the 200-day. The swing-pivot structure remains DTrend on both the short-term and intermediate-term measures, with a sequence of lower highs and lower lows extending from the late-June peak. The latest large-range selloff accelerated through the prior September swing low and established a new pivot low near 104:08, while the next confirmed opposing pivot threshold is materially higher near 108:09. Rising ATR and firm volume participation characterize an expanded-volatility liquidation phase rather than a narrow consolidation. The market is substantially stretched below its moving-average cluster, but the prevailing technical structure remains bearish until a higher pivot sequence develops.