Natural Gas Futures Set Up for Next Move Ahead of Thursday's Inventory Report

Natural gas futures are setting up for their next move as an inventory report approaches on Thursday. In July, there have been two bearish reports and one bullish report so far. The price action in July has followed a bearish trend and it seems likely to see more of the same. The Natural Gas Day Futures chart shows major monthly support around $2.50.

The daily and weekly charts have some minor support at current levels, but it's unclear if this will hold up against a weak Thursday report. Trading-Capital8 advises waiting for lower prices to buy the commodity. This strategy is based on an analysis of past inventory reports and market trends.