股指期货将震荡整理，黄金、白银期货将创下上市以来新高，白银、黄金期货将震荡偏强，铂、钯、焦煤、玻璃、纯碱、原油、燃料油期货将偏强震荡，镍、锡、碳酸锂期货将震荡偏弱

1. Report's Investment Rating for the Industry The document does not mention the investment rating for the industry. 2. Core Viewpoints of the Report - Through macro - fundamental and technical analysis, the report predicts the trend, resistance, and support levels of various futures contracts on January 19, 2026, and the overall trend in January 2026. Some futures are expected to reach new highs [1][2][4]. - It also presents a series of macro - news and their potential impacts on the futures market, such as policy changes and trade agreements [6][7]. 3. Summary by Relevant Catalogs 3.1 Futures Market Trend Forecast - January 19, 2026 Forecast: - Stock Index Futures: IF2603, IH2603, IC2603, and IM2603 are expected to oscillate and consolidate. Resistance and support levels are provided for each contract [2][21]. - Treasury Bond Futures: T2603 is likely to oscillate strongly, and TL2603 is expected to oscillate and consolidate [2][41][46]. - Precious Metals Futures: AU2604 and AG2604 are expected to oscillate strongly and may reach new highs. PT2606 and PD2606 are likely to oscillate strongly [2][48][52]. - Base Metals Futures: Some, like CU2603 and AL2603, are expected to oscillate strongly, while others, such as ZN2603 and NI2602, may oscillate weakly [2][67][73]. - Other Commodity Futures: Some futures, including JM2605 and FG605, are expected to oscillate strongly, and others, like RB2605 and I2605, may oscillate weakly [2][101][108]. - January 2026 Forecast: - Stock index futures (IF, IH, IC, IM continuous contracts) are expected to oscillate strongly. Some may reach new highs [4]. - Gold, silver, copper, and other futures continuous contracts are expected to oscillate strongly, with some reaching new highs [4][5]. 3.2 Macro - news and Their Impacts - Domestic News: - The State Council promotes consumption - boosting measures, and the SFC strengthens market regulation and promotes reform [6][7]. - The central bank adjusts the minimum down - payment ratio for commercial real estate loans and cuts re - loan and re - discount rates [7][8]. - The total social electricity consumption in China in 2025 exceeded 10 trillion kWh [9]. - International News: - Canada and China reach an economic and trade cooperation agreement, and the EU may impose tariffs on US goods [6][11]. - The US Federal Reserve officials express their views on interest rates and economic growth [10]. 3.3 Commodity Futures - related Information - The Shanghai Futures Exchange adjusts trading limits for silver and nickel futures contracts [13]. - The Shanghai International Energy Exchange Center revises the container shipping index (European line) futures standard contract [13]. - On January 16, international precious metal futures generally declined, while crude oil futures rose, and London base metals fell [13][14].