The two dollar area may provide support, but it appears destined to break that psychological level at some point. Areas to watch for a reversal are $1.95 and $1.85. Any serious penetration of the latter number and natural gas could be well on its way to $1.35 or so.
The caveat here is if producers finally stop looking for it and shut down existing wells. They are running out of storage space and until much of the inventory is depleted there likely won't be any great turnaround for awhile. People in the industry have been talking anywhere from two to five years before natural gas rebounds. Of course, it was only six years ago we were told we'd never see low natural gas prices again.
Always perform your own due diligence. These are only my opinions.
