We might have an accumulation phase here. Euro zone is heading into winter and we might see more bulls joining Natgas.
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Price is attempting to breakout long from this accumulation phase.
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Well it seems like we can expect to pay more for gas.
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Pullback to test breakout from accumulation. Will keep tabs on this to see if the price will move back into the phase and trade sideways.
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Price bounced off the accumulation face resistance, now support - change in polarity principal. Price is heading to the near higher resistance, as a trader you have to make a decision, do you trade a breakout above this resistance? or will you wait for a pullback to the resistance and then trade long if resistance holds as support? Only your traders personality will reveal what you will do and what you have extensively tested using back testing on this instrument.
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Higher price was countered and the price moved down back into the accumulation phase. There was just not enough demand to push price higher.