Natural Gas Futures on Brink of Next Move Ahead of Inventory Report

Natural gas futures are setting up their next move as traders approach Thursday's inventory report. Historically, July has been a month of bearish reports for natural gas, with two such reports already released this month and only one bullish one.

The price action in July suggests that the trend is likely to continue its bearish trajectory. The daily and weekly charts show some minor support at current levels, but the major monthly support around $2.50 seems uncertain if Thursday's report comes in weakly.

Trading-Capital8 is waiting for lower prices before buying natural gas, as quoted by TradingView.