股指期货将偏强震荡，白银期货再创上市以来新高，工业硅、多晶硅、焦煤期货将震荡偏强，玻璃、纯碱期货将偏强震荡

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report Based on macro - fundamental analysis and technical analysis such as the golden section line, horizontal line, and moving average, the report predicts the trend of today's futures main contracts. Most contracts are expected to show a strong or weak shock trend, with specific resistance and support levels provided for each contract [2]. Summary by Related Catalogs 1. Futures Market Forecast Highlights - Stock index futures are expected to fluctuate strongly. For example, IF2509 has resistance levels at 4090 and 4122 points and support levels at 4065 and 4046 points [2]. - Ten - year and thirty - year Treasury bond futures are likely to fluctuate weakly. The ten - year T2509 has support at 108.65 and 108.60 yuan and resistance at 108.79 and 108.83 yuan; the thirty - year TL2509 has support at 119.7 and 119.5 yuan and resistance at 120.1 and 120.3 yuan [3]. - Gold and silver futures are expected to fluctuate strongly. Silver futures may hit a new high since listing. Gold futures AU2510 has resistance at 789.9 and 794.9 yuan/gram and support at 783.5 and 781.8 yuan/gram; silver futures AG2510 has resistance at 9450 and 9500 yuan/kg and support at 9300 and 9273 yuan/kg [3]. - Base metal futures such as copper, aluminum, and zinc generally show a strong or wide - range shock trend, with corresponding resistance and support levels provided [3][4]. - Industrial product futures like industrial silicon, polycrystalline silicon, and coke are expected to fluctuate strongly, while some contracts like glass and soda ash are also predicted to have a strong shock trend [4][5]. - Energy futures: Crude oil futures are likely to fluctuate weakly, with the main contract SC2509 having support at 502 and 500 yuan/barrel and resistance at 512 and 516 yuan/barrel [7]. - Agricultural product futures: Soybean meal futures are expected to fluctuate weakly, and natural rubber futures are likely to fluctuate strongly [8]. 2. Macro Information and Trading Tips - European Council President Costa and European Commission President von der Leyen will visit China on July 24. President Xi Jinping will meet them, and Premier Li Qiang will co - host the 25th China - EU Leaders' Meeting [9]. - The "Housing Rental Regulations" will come into effect on September 15, 2025, aiming to standardize the housing rental market [9]. - China's July LPR remained unchanged for the second consecutive month. The 1 - year variety is reported at 3.0%, and the over - 5 - year variety is at 3.5%. Market institutions expect a further decline in the second half of the year [9]. - The first half of 2025 saw stable and positive economic performance. Fiscal policy will continue to play a proactive role in the second half of the year [10]. - The EU's sanctions list against Chinese enterprises and financial institutions has been responded to by China, which urges the EU to stop the wrong practice [10]. - The total electricity consumption in June was 867 billion kWh, a year - on - year increase of 5.4%. The cumulative electricity consumption from January to June was 4841.8 billion kWh, a year - on - year increase of 3.7% [10]. - The pilot rules for cross - border asset management in the Hainan Free Trade Port have been released, with an initial pilot scale limit of 10 billion yuan [10]. - In the 27th Japanese Senate election, the ruling coalition lost its majority in the Senate. Prime Minister Ishiba Shigeru will continue to serve, but the opposition may propose a no - confidence motion [11]. - Fitch downgraded the outlook of 25% of US industries in 2025 to "deteriorating" due to policy risks [11]. - The "OBBBA" bill passed by the Trump administration will increase the US fiscal deficit by $3.4 trillion in the next decade [11]. - The EU may hold a meeting this week to prepare for the situation of failing to reach a trade agreement with the US and may use the "anti - coercion tool" [12]. - The EU is formulating a new bill requiring large enterprises and car rental companies to switch to electric vehicle procurement from 2030, which will affect about 60% of new car sales in the EU [12]. - Hungary is in talks with Serbia and Russia to build a new oil pipeline, which is expected to be operational in 2027 [13]. - The UK government has launched a public consultation on the licensing plan for autonomous passenger services, aiming for the launch of autonomous taxis and other services in spring 2026 [13]. 3. Commodity Futures - Related Information - Zhengzhou Commodity Exchange announced that the listing benchmark price of the first - batch of propylene futures contracts on July 22 is 6350 yuan/ton [13]. - In June, global alumina production was 6.045 million tons. China's alumina production is expected to be 3.625 million tons [13]. - On July 21, international precious metal futures generally rose, with COMEX gold futures up 1.55% and COMEX silver futures up 2.02%. International oil prices slightly declined [14]. - On July 21, London base metals closed higher across the board. The on - shore RMB against the US dollar closed down 2 points, and the central parity rate was down 24 points [14][15]. 4. Futures Market Analysis and Outlook Stock Index Futures - On July 21, the CSI 300 stock index futures main contract IF2509 opened slightly higher, fluctuated upward, and closed at 4064.8 points, up 0.73%. It approached the resistance at 4070 points [15]. - The Shanghai 50 stock index futures main contract IH2509 opened slightly higher, fluctuated slightly stronger, and closed at 2771.2 points, up 0.29% [16]. - The CSI 500 stock index futures main contract IC2509 opened slightly higher, fluctuated upward, and closed at 6055.6 points, up 1.04%. It broke through the 6050 - point resistance [16]. - The CSI 1000 stock index futures main contract IM2509 opened slightly higher, fluctuated upward, and closed at 6453.2 points, up 0.93%. It broke through the 6460 - point resistance [17]. - The stock market on July 21 showed a positive trend, with most indexes rising. The A - share trading volume increased to 1.73 trillion yuan [18]. - In Hong Kong, the Hang Seng Index closed up 0.68%, and the number of IPOs and fundraising amount increased significantly [19]. - US and European stock markets showed mixed trends on July 21. The report predicts that stock index futures will fluctuate strongly in July 2025 and on July 22, with specific resistance and support levels provided [19][20][21]. Treasury Bond Futures - On July 21, the ten - year Treasury bond futures main contract T2509 opened lower, fluctuated weakly, and closed at 108.760 yuan, down 0.05%. The 30 - year main contract also declined [38]. - The central bank conducted 170.7 billion yuan of 7 - day reverse repurchase operations on July 21, with a net withdrawal of 55.5 billion yuan [38]. - The report predicts that the ten - year and thirty - year Treasury bond futures will fluctuate weakly on July 22, with specific support and resistance levels [39][43]. Precious Metal Futures - On July 21, the gold futures main contract AU2510 opened slightly higher, fluctuated upward, and closed at 781.70 yuan/gram, up 0.82%. It is expected to fluctuate widely in July 2025 and strongly on July 22 [43][44]. - The silver futures main contract AG2510 opened slightly higher, fluctuated weakly on July 21, but showed strong upward momentum in the night session. It is expected to break through new highs on July 22 and fluctuate strongly in July 2025 [50][52]. Base Metal Futures - On July 21, copper, aluminum, zinc, and other base metal futures generally showed upward trends. The report provides their closing prices, price changes, and resistance and support levels, as well as the expected trends in July 2025 and on July 22 [57][61][71]. Industrial Product Futures - Industrial silicon, polycrystalline silicon, and other industrial product futures showed strong upward trends on July 21. The report predicts their trends on July 22, including the likelihood of approaching resistance levels or breaking through [80][81]. Energy Futures - On July 21, the crude oil futures main contract SC2509 opened slightly higher, fluctuated downward, and closed at 512.3 yuan/barrel, up 0.23% (down 0.68% based on the closing price). It is expected to fluctuate weakly on July 22 and strongly and widely in July 2025 [106]. Agricultural Product Futures - On July 21, soybean meal and natural rubber futures showed upward trends. The report predicts that soybean meal futures will fluctuate weakly on July 22, while natural rubber futures will fluctuate strongly [116][118].