Natural Gas (NG) - 1 hour timeframe (July 16, 2024)

Current Situation: Natural Gas is currently trading in a supply zone, indicating potential selling pressure.

Support Levels:

Support 1: 177.50
Support 2: 173.10
Bearish Factors:

Cooler weather forecast: This could reduce demand for natural gas for heating purposes.
Freeport LNG disruptions: Continued issues at the Freeport LNG export facility are limiting demand for natural gas.
Overall: Downward pressure is expected on natural gas prices due to the bearish factors mentioned above. The support levels will be crucial in determining the price direction.

Disclaimer: This information is for educational purposes only and should not be considered financial advice.