NATGAS price rose sharply following the news that Russian giant Gazprom said it was halting another Siemens turbine and from Wednesday plans to reduce gas supply via the Nord Stream 1 pipeline to 33 million cubic meters per day from roughly 40 mcm since the restart last week. As a result Germans stock index DE30 took a hit due to high dependence of the German economy on natural gas from Russia. At such low levels of gas transfer there is a risk that Germany will not have enough supplies for the whole winter period.
After this news came out, European indices fell sharply. The DE30 plunged almost 100 points in just a minute. Source: xStation5
NATGAS has filled the broad structure of the head and shoulders. The price is currently trying to break out of the upward channel. Should break higher occur, the $ 9.00 and $ 9.41 levels will become the next target for buyers. Source: xStation5
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