Ultimately, if the demand for gas is low and the supply high the price should and will go down. But if the demand is low then that would reflect real demand from the economy and the fact that the market has rallied in expectation of greater demand in the future should pass on to a commodity, where production has been cut as has development. So, from a long term perspective, bullish, as judged by the euphoria in global markets. The problem is who wants to wait that long and where is the price stability in this commodity.
I would argue that there is a painfully long oil and short natural gas hedge. For every spike in oil there leads to a downward one in natural gas. That is why speculator's positions are at all time highs in the short column while the commercials who realize how cheap it is have been backing the truck up and waiting. Go with the real money, but it just takes time.
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