But as things stand right now, it looks like the natural gas market is stuck between $3 on the top and somewhere right around $2.80 on the bottom. The 50-day EMA is flat, and the 200-day EMA sits above the $3 level, but it is drifting lower.

Ultimately, this, at least from what I can tell, still looks very range-bound. As a result, I have to play it that way. This time of year, we start to shift from bearish seasonality to neutral, and this is an interesting time of year because longer-term traders quite often will be putting their positions on.

Ultimately, we are going to need to see a significant drawdown in storage to make things change. We have not really seen that yet, and at last count, we were still running at about 5% above the five-year average as far as storage is concerned. So, there are still some bearish headwinds, but we are starting to think about winter.