Natural Gas Futures Hit Major Support Ahead of Thursday's Inventory Report

Natural gas futures are approaching a critical point ahead of Thursday's inventory report. The market has seen two bearish reports and one bullish report so far in July, indicating a mixed sentiment. However, price action for the month has been trending downwards, suggesting a likely continuation of this trend.

The Natural Gas Futures chart shows significant monthly support around $2.50, which could be a key level to watch. The daily and weekly charts have some minor support at current levels, but it's unclear whether they will hold if Thursday's report comes in weak.

Trading-Capital8 is waiting for lower prices to buy up the commodity, indicating a potential buying opportunity on dips.