The chart is suggesting that may be the case here.

Price is through and holding above the 20, 50, and 200dmas, and all three moving averages are now stacked in bullish alignment. Price has broken above any downtrendline (I count three) one cares to draw going back to the Jan. 2010 peak. Also continuing to build and hold above a new uptrendline starting from the Oct. low, accompanied by higher lows and higher highs (albeit modest ones). MACD, RSI, and Stochs are all comfortably in positive territory after exhibiting bullish divergences in the Aug.-Oct. time period last year.

Combining this technical backdrop with an absolutely abysmal sentiment for this commodity amidst a plethora of so-called 'experts' continuing to scream 'Supply for as far as the eye can see!' bolsters a contrarian's view that this is indeed an emerging bull.

Natgas is a buy IMVHO.