Commodities
Natural Gas Prices May Rebound on Thursday's Inventory Report
Natural gas prices may be due for a rebound, according to some market observers. The commodity has been trending downwards in July, with two bearish reports and only one bullish report so far this month.
The price action suggests that natural gas is likely to continue its bearish trend unless Thursday's inventory report comes in strong.
A key level of support for natural gas futures is $2.50, which has held up as a monthly floor.
However, daily and weekly charts show some minor support at current levels, but this may not hold if the inventory report disappoints.