Natural Gas Futures Await Inventory Report Amid Bearish Trend

Natural gas futures are poised for their next move as the market awaits an upcoming inventory report on Thursday.

So far this month, two bearish reports and one bullish report have been released. As a result, price action has followed a bearish trend, suggesting that more downward pressure is likely in the near term.

The Natural Gas Futures chart shows significant monthly support at $2.50. However, daily and weekly charts have only minor support at current levels, which may not hold up if Thursday's report comes in weakly.

According to Trading-Capital10, a trader is waiting for lower prices to buy into the commodity.