Natural Gas Futures Prepare for Next Move Ahead of Inventory Report

Natural gas futures are preparing for their next move as the market awaits Thursday's inventory report. In July, there have been two bearish reports and one bullish report, indicating a bearish trend.

The price action in July has followed this downward trajectory, suggesting that it may continue. The Natural Gas Daily Financial Futures chart shows major monthly support at $2.50, but the daily and weekly charts have only minor support at current levels.

According to Trading-Capital9, who is personally waiting for lower prices to buy natural gas, the Thursday report's outcome will likely influence the market's direction. If it comes in weak, current support levels may not hold.