Natural Gas Futures Set Up Next Move Amid Thursday Inventory Report

Natural gas futures are poised for their next move as traders await Thursday's inventory report. The market has seen two bearish reports and one bullish report so far in July, which has led to a bearish trend in price action.

The Natural Gas Futures chart shows major monthly support around $2.50, but the daily and weekly charts have only minor support at current levels. If Thursday's report comes in weak, these supports may not hold.

Natural gas trader Trading-Capital10 is waiting for a lower price to buy into this commodity, suggesting that it's better to wait for a more favorable entry point rather than trying to catch the next move up.