The Monthly chart shows NG was in a defined uptrend from the beginning of 2002 to the end of 2005. This was followed by a 9 month correction that ended in fall 2006 before the prior uptrend resumed through to mid 2008. After that came a 15 month plunge terminating at the 9 year low in mid 2009 that has not been seriously threatened to this date. Since that low was made, the market has entered into a 16 month trading range contained largely within the $4 to $5 zone, with occasional probes above $5 and periodic pushes below $4 into the mid-to-high $3 area. Despite this long basing pattern, sentiment remains in the toilet as NG enters a period of seasonal strength that stretches into late April...a time to pay close attention for the possible emergence of a baby bull perhaps.