Natural Gas Futures Prepare for Next Move Ahead of Inventory Report

Natural gas futures are preparing for their next move as the industry awaits an inventory report on Thursday. According to Trading-Capital9, a bearish trend has been evident in price action for July, with two bearish reports and only one bullish report so far this month.

The daily and weekly charts show some minor support at current levels, but Trading-Capital9 is not confident it will hold up if the Thursday report comes in weak. The major monthly support level for natural gas futures is around $2.50.

Trading-Capital9 is personally waiting for a lower price to buy into this commodity, suggesting that patience may be required before making any moves.