Zak Mir takes a charting look at some of the most closely followed small caps on the London Stock Exchange. Today’s charts are FTSE 100, DAX, Dow, Bitcoin, Ethereum, Gold, Altona, Bezant, Calnex, Cadence, Empire, Oxford Biodynamics, Ondine, Panther, Pulsar, Pantheon, Seeing Machines, Wishbone.
In my Bulletin Board Heroes update I take a charting look across the FTSE 100, DAX, Dow, Bitcoin, gold and a basket of smaller-cap names that have been showing real momentum.
Below, I summarise the technical levels, short-term scenarios and the key triggers I’m watching for each market and stock. This is a snapshot for traders and investors looking for clear levels and realistic targets over the coming weeks
Market overview — indices, crypto and gold
FTSE 100
The FTSE sits on the lower edge of a rising wedge. Key levels to watch:
- Immediate support: around 9,130 (the June support line).
- End-of-day close needed through resistance: above 9,150 to confirm a move up the wedge toward 9,330.
- Near-term downside: the August floor at 9,127 and the 50-day line ~8,964 (worst case if we break lower).
“It’s crunch time as far as Russia–Ukraine is concerned — that geopolitical backdrop will have outsize influence on whether we resume a bull track.”
DAX
The DAX is dithering around the July resistance area near 24,300. The structure suggests a bullish case if we get a proper end-of-day close above that level:
- Break above 24,300 (EOD close) → potential move toward 25,500 over the next month.
- Support: 50-day line 23,900; secondary support near 23,400.
- RSI is showing a 50-level rebound, which helps the upside case while it holds.
Dow
The Dow needs a clean end-of-day close through 45,000 to open a run toward the top of the May 2024 rising channel.
- Trigger: EOD > 45,000 → target 47,600 by the end of next month.
- Support: 50-day line 43,800. Calamity scenario would push toward the channel floor and sub 42,500 area (near the 200-day).
Bitcoin
Bitcoin has been slightly disappointing to start the week, trying to hold the floor of the rising trend channel established in March.
- Near-term technicals: trading just below the 50-day ($116k).
- Support: old resistance / August support around $112k.
- Momentum: RSI back below neutral 50 (around 45).
- Trigger for bulls: first EOD close above $119k would suggest a run toward the top of the channel ($132k) over the next month.
Gold
Gold remains tough to call but support from April continues to hold.
- Immediate support: April support line $3,330.
- Immediate resistance: April resistance $3,420; a clean break there could pave the way toward $3,800 as a longer-term bullish target.
- RSI has failed at 50 recently and sits near 47 — momentum needs to improve for the upside scenario.
Penny stocks, miners and microcaps — what I’m watching
Below are the names I covered with levels, targets and the conditions I want to see. I flag the end-of-day closes and moving average relationships that matter for each.
Altona Rare Earths
Nice upside continuation after recent moves. We’ve seen consecutive session gaps higher and a healthy RSI back above 50.
- Target: 2.44p by the end of next month (or sooner if the 50-day starts to rise).
- Momentum: the bear-trap/gap reversal has been constructive.
Bezant Resources
Shares are moving toward the near-term target after recent strength.
- Near-term target: 0.06–0.066p; if reached, a run to 0.07–0.08p by the end of this month is possible.
Calnex Solutions
Not a name I cover often, but the chart is punchy here.
- Key structural level: recent broken neckline resistance around 50p.
- Trigger: wait for an EOD close >55p (that also coincides with the 200-day moving average shown in black).
- Upside: if sustained above the channel floor and the 50-day (48p), the top of the rising channel from May last year could be 80p by the end of next month.
- Be cautious — confirm with the EOD close through 55p.
Cizzle Biotechnology Holdings
Strong move in the US for this name — we’ve had a bear-trap gap reversal and the pattern is a broadening triangle that’s been forming for over a year.
- Important threshold: regain the 200-day line (1.7p) — if that happens this week, the chart opens to 2.88p by the end of next month.
Cadence Minerals
Positive day driven by cost news — shares gapped up.
- Indicator: stay above the 200-day (1.9p).
- Target: 2.5p toward the top of the broadening triangle — ideally before the end of next month.
Empire Metals
Consistent strength — we’ve hit multiple targets and momentum is holding.
- Current level: in the mid 30p zone after hitting our fourth/fifth target at 34p.
- Near-term target: approaching 40p (derived from an April 2023 resistance projection) — likely in the run-up to the end of this month or at least by the end of next month while above the low 30s.
Oxford BioDynamics
There’s real excitement here after an early-week gap up which the stock has held. The rising 50-day is supportive.
- Key support: recent broken resistance at 48p (EOD close basis).
- Target: top of the rising channel from July 72p next month (or sooner if momentum continues).
Panther Metals
I interviewed the company recently and it’s encouraging to see the shares bounce off the top of the January gap as support.
- Near-term: break and sustain above 103p would open a run to £1.50 by the end of next month.
- Note: multiple RSI balances at/near neutral 50 are typically a leading indicator on the upside.
Pulsar Group
Major flow-test results (Jetstream One) have given the market something to cheer about after months of flatlining.
- Key level: hold above recent broken resistance 28.5p (EOD close basis).
- Target: top of the rising trend channel from December 36p, potentially by the end of this month.
Pantheon Resources
A couple of traders guessed correctly that the company would deliver good news and the stock has reacted.
- Initial target: 33p by the end of this month.
- Best-case: if drilling continues without setbacks, the upper parallel of the rising channel points to 45p by the end of next month.
- Support: stay on the right side of recent post-resistance 28p on an EOD close basis.
Seeing Machines
A lesser-covered name but technically interesting — it’s trying to break the falling trend channel that’s been in place since early last year.
- Break level: extension above the top of the falling channel 3.1p.
- Upside: a fresh leg could push toward 3.75p by the end of next month, filling the February gap down.
- Key support: keep above the rising 50-day (2.75p).
Wishbone (dish of the day)
This one gapped up and has been an impressive mover. The shares have cleared several technical hurdles.
- Momentum: gapped above the rising 50-day (0.37p) and has cleared a previous target 0.50p and the next target 0.75p.
- End-of-month technical target: 0.94p (technical channel target for end of August).
- If we get really excited about continuation, the next level up could be 1.10p by the end of next month, while holding above July resistance 0.76p on an EOD close.
Summary and trade checklist
Across markets and names, the checklist I’m trading from today is simple:
- Look for clean end-of-day closes through key resistance levels before committing (FTSE >9,150; DAX >24,300; Dow >45,000; Bitcoin >119k).
- Respect the 50-day and 200-day moving averages as dynamic support/resistance (many microcaps need those reclaim levels to validate rallies).
- Use RSI behaviour around the 50 level as a leading guide for momentum shifts — multiple balances near 50 can precede strong upside moves.
- Manage risk: mark the downside support levels noted above and size positions to those technical invalidation points.
That’s it for today — I’ll be back with more updates tomorrow as patterns evolve and new data arrive. Stay disciplined and watch those EOD closes; they’ll tell you a lot more than intraday noise.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
