Gas Prices Set for Next Move Ahead of Thursday Inventory Report

Natural gas is on the cusp of its next move as investors await Thursday's inventory report, which could have significant implications for prices. The commodity has had a bearish trend so far in July, with two negative reports and one positive one. This trend is expected to continue, according to Trading-Capital10, who notes that price action in July suggests further decline.

The Natural Gas futures chart shows major monthly support around $2.50, but the daily and weekly charts have only minor support at current levels. If Thursday's report comes in weak, this support may not hold.

Trading-Capital10 is personally waiting for a lower price to buy up the commodity, indicating caution ahead of the report.