Surprisingly August Natural gas has managed to claw slightly higher this morning, despite a negative tow from the rest of the energy complex and it also managed that slight rise in the face of patently bearish international economic data overnight. Seeing natural gas largely avoid the broad based physical commodity liquidation pressure this week might be a sign that natural gas has found a solid long term fundamental value zone. However, it could take a supportive weekly storage report to add to this morning's early action. We have to think that increased tropical activity is providing some speculative buying interest to gas this week and that might also be scaring off some would be shorts! It is also likely that the ongoing heat wave in the US has cushioned natural gas prices this week but now US weather forecast might be seen as shifting toward the bear camp. Near term support is seen at $2.538, which is a quasi double bottom low.