Natural Gas Futures Await Crucial Inventory Report Amid Bearish Trend

Natural gas markets are poised for a potential shift as traders await the upcoming inventory report on Thursday. So far in July, the market has seen two bearish reports and one bullish report, contributing to a downward trend in price action. The outlook for the remainder of the month appears to favor continued bearish momentum.

The Henry Hub Natural Gas Weekly Futures chart highlights significant monthly support around the $2.50 mark. While the daily and weekly charts show some minor support at current levels, there is skepticism about whether this support will hold, especially if the upcoming report reinforces bearish sentiment.