Natural gas recently broke through its 50 and 200 MA and is in freefall. The chart shown below indicates resistance at $7.40. MACD is still indicating a bearish trend but RSI is reaching oversold levels. The last time natural gas reached oversold conditions on RSI, an aggressive rally shortly followed. Also, the early stages of an inverted cup and handle pattern seem to be forming. Look out in the coming weeks to see if the pattern completes its formation.