Commodities
Natural Gas Futures Eye Inventory Report Amid Ongoing Bearish Trend
Natural gas futures are setting up for their next move ahead of an upcoming inventory report on Thursday. The commodity has seen mixed results so far in July, with two bearish reports and one bullish report.
The price action in July has been trending downward, suggesting that the trend may continue. Major monthly support for natural gas futures is around $2.50, but current levels have some minor support on the daily and weekly charts.
Trading-Capital10 warns that this support might not hold if the Thursday report comes in weak, leading them to wait for lower prices before buying the commodity.