Natural Gas Prices Weaken Ahead of Critical Inventory Report

Natural gas prices have been following a bearish trend in July, and traders are watching for Thursday's inventory report to see if it will continue. 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 the report comes in weak, it may not hold up.

The month of July has seen two bearish reports and one bullish report so far, leading to a mixed picture for natural gas prices. However, some traders are still waiting for lower prices before buying into this commodity.