Natural Gas Futures Eye Thursday's Inventory Report

Natural gas futures are setting up for their next move as investors await Thursday's inventory report. The commodity has seen two bearish reports and one bullish report so far this month, with price action trending downward.

The July trend appears to be following a bearish pattern, which may continue if the upcoming inventory report comes in weak. Major monthly support for natural gas is around $2.50, but daily and weekly charts show only minor support at current levels.

Trading-Capital8 advises waiting for lower prices before buying up natural gas, citing concerns about the commodity's ability to hold onto current levels if the report is weak.