股指期货将震荡整理，白银期货将震荡偏强，黄金、多晶硅、碳酸锂期货将偏强震荡，螺纹钢、铁矿石期货将偏弱震荡

Report Industry Investment Rating No relevant content provided. Core View of the Report Through macro - fundamental analysis and technical analysis using tools such as the golden ratio line, horizontal line, and daily moving average, the report predicts the likely trends of futures main contracts on November 27, 2025. These include股指期货 oscillating and consolidating,白银期货 oscillating with an upward bias,黄金,多晶硅, and碳酸锂期货 oscillating with an upward trend, and螺纹钢 and铁矿石期货 oscillating with a downward trend[1][2][3]. Summary by Related Catalogs Futures Market Outlook - Stock Index Futures: IF2512 is expected to have resistance at 4521 and 4539 points and support at 4457 and 4439 points; IH2512 at 2977 and 2990 points (resistance) and 2959 and 2952 points (support); IC2512 at 7000 and 7054 points (resistance) and 6871 and 6827 points (support); IM2512 at 7264 and 7300 points (resistance) and 7150 and 7132 points (support)[2]. - Treasury Bond Futures: The 10 - year Treasury bond futures main contract T2603 is likely to oscillate weakly and test support at 107.64 and 107.55 yuan, with resistance at 107.91 and 108.03 yuan. The 30 - year Treasury bond futures main contract TL2603 is expected to oscillate weakly in a wide range and test support at 113.8 and 113.7 yuan, with resistance at 114.4 and 114.6 yuan[2]. - Precious Metals Futures: The gold futures main contract AU2602 is likely to oscillate with an upward trend and attack resistance at 951.5 and 961.0 yuan/gram, with support at 942.5 and 939.6 yuan/gram. The silver futures main contract AG2602 is expected to oscillate with an upward bias and attack resistance at 12472 and 12664 yuan/kilogram, with support at 12163 and 12127 yuan/kilogram[2][3]. - Base Metals Futures: The copper futures main contract CU2601 is likely to oscillate with an upward trend and attack resistance at 87600 and 88000 yuan/ton, with support at 86700 and 86600 yuan/ton. The aluminum futures main contract AL2601 is expected to oscillate with an upward trend, with resistance at 21650 and 21730 yuan/ton and support at 21460 and 21380 yuan/ton. The alumina futures main contract AO2601 is likely to oscillate weakly and test support at 2700 and 2684 yuan/ton, with resistance at 2727 and 2736 yuan/ton[3]. - Other Commodity Futures: The polysilicon futures main contract PS2601 is likely to oscillate with an upward trend and attack resistance at 56700 and 57300 yuan/ton, with support at 55900 and 55500 yuan/ton. The lithium carbonate futures main contract LC2605 is expected to oscillate with an upward trend and accumulate strength to attack resistance at 99500 and 101200 yuan/ton, with support at 95800 and 95000 yuan/ton. The rebar futures main contract RB2601 is likely to oscillate weakly and test support at 3076 and 3060 yuan/ton, with resistance at 3099 and 3105 yuan/ton. The hot - rolled coil futures main contract HC2601 is expected to oscillate weakly and test support at 3284 and 3273 yuan/ton, with resistance at 3304 and 3317 yuan/ton. The iron ore futures main contract I2601 is likely to oscillate weakly and test support at 790 and 788 yuan/ton, with resistance at 800 and 805 yuan/ton. The coking coal futures main contract JM2601 is expected to oscillate weakly and test support at 1053 and 1040 yuan/ton, with resistance at 1090 and 1095 yuan/ton[3][4]. - Energy and Chemical Futures: The glass futures main contract FG601 is likely to oscillate in a wide range, with resistance at 1051 and 1070 yuan/ton and support at 1031 and 1014 yuan/ton. The soda ash futures main contract SA601 is expected to oscillate weakly and test support at 1155 and 1141 yuan/ton, with resistance at 1183 and 1195 yuan/ton. The crude oil futures main contract SC2601 is likely to oscillate with an upward trend, with resistance at 449 and 453 yuan/barrel and support at 441 and 438 yuan/barrel. The methanol futures main contract MA601 is expected to oscillate with an upward trend and attack resistance at 2141 and 2168 yuan/ton, with support at 2094 and 2077 yuan/ton[6]. Macro - news and Trading Tips - China's airlines are instructed to cut flights to Japan before March 2026, and the Ministry of Foreign Affairs suggests inquiring with relevant authorities[7]. - Six departments jointly issued a plan to enhance consumer goods supply - demand adaptability, aiming to optimize the supply structure by 2027, forming 3 trillion - level consumption areas and 1000 - billion - level consumption hotspots[7]. - The Cyberspace Administration of China emphasizes cracking down on online corporate infringement, strengthening the management of financial "self - media" and MCN accounts[7]. - The National Development and Reform Commission announced a credit repair management method to be effective from April 1, 2026, classifying失信 information into three categories with different publicity periods[7]. - China and the EU held a video meeting on economic and trade issues such as ASM, agreeing to promote communication between ASM Netherlands and ASM China[8]. - The Fed's Beige Book shows that most regions' economic activities were flat, with some regions reporting a slight decline or growth, and the risk of economic slowdown in the coming months has increased[8]. - US initial jobless claims decreased to 216,000 last week, and durable goods orders improved, increasing the market's expectation of a Fed rate cut in December to 85%[8][9]. Commodity Futures - related Information - Platinum and palladium futures will be listed on November 27, with benchmark prices of 405 yuan/gram and 365 yuan/gram respectively[9]. - US and Brent crude oil futures rose, but there was no clear reason for the increase[9]. - International precious metal futures generally rose, with COMEX gold up 0.45% and COMEX silver up 4.13%. Market expectations of a Fed rate cut in December reached 85%[9]. - Most London base metals rose, while LME nickel and lead fell[10]. - The RMB strengthened against the US dollar for two consecutive days[10].