Commodities
Bearish Trend Continues: Natural Gas Futures Eye Thursday Report
Natural gas futures are setting up for their next move as investors await this Thursday's inventory report. The recent trend has been bearish, with two bearish reports and one bullish report in July so far. Price action has followed a downward trend for the month.
The natural gas futures chart indicates significant monthly support around $2.50. However, daily and weekly charts show minor support at current levels, which may not hold if the upcoming inventory report comes in weak.
According to Trading-Capital10, they are personally waiting for lower prices to buy up this commodity, suggesting a cautious approach to investing in natural gas futures.