This report is provided by MacroTerms.com

Data as of: 2026-11-02 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-11-02 07:16:46 · Benchmark settle: 2026-10-30
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

2026-11-02 China Futures Morning Report: Precious Metals and Black Commodities Under Pressure, Chemicals Continue to Rebound

Precious metals fell under transmission from overnight declines in international markets. If gold breaks below the next pivot S1 support at 850.61, short-term bearish bias triggers, targeting the 20-day low of 854.72. A rebound back above R1 resistance at 863.85 would invalidate the bearish view. Rebar futures saw long liquidation, and if prices break below the next pivot S1 support at 3017.67, the downtrend will continue, targeting the 20-day low of 3012. A rebound back above R1 resistance at 3049.67 would invalidate the bearish view. Methanol night session showed a decline accompanied by price increases, indicating short covering. If prices break below the next pivot S1 support at 3398, the bearish trend will continue, targeting 2902. A rebound back above R1 resistance at 3560 would invalidate the bearish view.