NatGas has been in a spiral, with limited support, especially coming out of what should have been a strong season.
IMO, this is a signal to pricing caps, for NatGas and will facilitate in the transition to use more of it. With price stability, the 'will' to use it will be more common place. But the vast supply will keep its price capped. (That is why I like KMP the most, the distributors are the key winners here.)
NatGas can bounce from here, but a conservative stance would be to play it at the horizontal support line, near its bottom. IMO, the best way to play the bounce would be via CHK, due to its large reserves. A declining NatGas would mean CHK goes down a bit more.
CHK could see 22, despite support at current levels.
I will pull the trigger on the trade if NatGas approaches the above support.
(And will purchase KMP if the market sells off on the Health Care push. There are just some utterly ridiculous notions regarding the domino effect if this bill passes. Do not let these people scare you. These people maybe right in the very short-term, but wrong in the mid/long-term. Profits drive stocks, and companies are in a great position to profit. The smell from Washington is not bad right now. There is finally some sense of leadership, and that certainty helps, not hurts markets.)