📈NATGAS surges as Russia cut gas transfers💥

Gazprom stops another engine at the Nord Stream 1 gas pipeline

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