Natural Gas Futures Gear Up for Thursday's Inventory Report

Natural gas futures are setting up for their next move as they approach Thursday's inventory report. The trend so far in July has been bearish, and two of the three reports have been negative.

The price action over the past month has followed a downward trajectory, with minor support at current levels but no strong resistance to suggest a reversal. However, there is significant monthly support around $2.50 on the futures chart.

Trading-Capital9, an analyst, is waiting for lower prices before buying up natural gas, suggesting that Thursday's report could be key in determining the commodity's next move.