Natural Gas Price Action Points to Further Decline

Natural gas futures have been following a bearish trend in July, according to Trading-Capital10. The month has seen two bearish inventory reports and one bullish report so far.

The Natural Gas Futures chart shows major monthly support around $2.50, which could be crucial for the commodity's price action. However, the daily and weekly charts have minor support at current levels, but their strength is uncertain, especially if Thursday's inventory report comes in weak.

Trading-Capital10 advises waiting for lower prices to buy Natural Gas futures, suggesting that the commodity may see further decline before a potential rebound.