SUMMARY: Long, Dutch Gas will go well over €200 shortly because of massive Gas shortages and storage across Europe are emptying.
Double bottom and W pattern - Technical target is €280 per MWH
Energy prices approaching 10x long run average. EU industry will become globally uncompetitive , especially manufacturing countries like Germany , Poland et al.
Sweden and other countries may need to shut down steel production at these prices.
It will mostly likely trigger economic unrest through Europe, like Greece protests in 2008.
@marius8888 the damage has been done. Factories in Germany , same for Italy and others, are closing down. The European Nat Gas storages are now below 60%, they will need to be refilled. We see prices bottoming out and will start to rise in the coming months.
marius8888
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@Tez8 no they won't, especially after all the newly constructed terminals and the diversification of suppliers of LNG gas. Do as you wish and good luck
Neji1453
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"because of massive Gas shortages and storage across Europe are emptying." It's not true. Stop lying. Look at Germany, Czech republic and others, they have really very full storages...
Tez8
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@Neji1453 I suspect those reports of full shortages in Europe are disinformation.
Maybe Poland is the best prepared in Europe. They are always careful.
We will see if “more” businesses are forced to shut down operations, to save energy and if there will be blackouts in the coming months.
Massive Blackouts only occur when there is no energy. Hence, the storages were not filled properly or enough.
BoyPlunger91
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Do you get exposure to this? What ticker?
Tez8
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@BoyPlunger91 usually CFD providers will provider exposure. Esp. the ones that covers commodities.