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, Contango, Ethernity, EnergyPathways, First Class, Georgina, Helium One, ImmuPharma, Kendrick, Kropz, KEFI, Physiomics, SDI, and Tekmar.
Friday the 13th and the markets are anything but uniform. Major indices are grinding higher within clear ranges, crypto is stuck in a corrective pattern, and gold remains extremely volatile. Below are the key technical levels, momentum readings and practical trade ideas for the week ahead.
As always, do your own research and treat these as chart-based observations rather than hard recommendations
Major indices: what to watch
FTSE 100
The FTSE is trading in an uptrend. Important levels to note:
- Support: 10,320 (recent support line)
- Near-term resistance: 10,535 (recent high) and 10,555 (red resistance line)
- Upside target: ~10,900 (possible by end of next month if momentum holds)
Momentum is healthy — the RSI has stayed at or above the 60 level since late December, which is an unusually strong sign. As long as price remains above 10,320 and RSI stays elevated, the path of least resistance is higher.
DAX
Dax is range-bound between the 50-day moving average and recent resistance.
- 50-day area: ~24,500
- Resistance range: 25,100 to 25,600 (May highs)
- Target: 25,600 by end of this month at best, otherwise by the end of next month
- Watch: 200-day moving average just above 24,000 — a rug pull into that region would change the picture
Dow Jones
After briefly testing 50,000, the Dow has pulled back toward the channel floor.
- Channel floor (rising): ~49,400
- 50-day moving average: ~48,800 — a key buy area if retested
- Optimistic target: 52,000 (top of rising channel) by end of next month if trend holds
Holding above the 50-day and the channel floor keeps bulls in charge. A break below would raise the odds of a deeper pullback.
Cryptocurrencies
Bitcoin (BTC)
Bitcoin looks stuck in a corrective / distribution pattern. The chart suggests a rounded top feel — not ideal.
- Immediate support: ~65,000
- Broader channel support: down to ~58,000 by month end if weakness continues
- Clear bullish trigger: daily close above ~72,000 — that would free up a run into the mid to upper 70s
Ethereum (ETH)
Ethereum mirrors Bitcoin’s price action but retains a little more structural support above the old April zone.
- Critical support: ~1,400 (old April support)
- Falling channel floor: ~1,700
- Resistance to clear: ~2,150 — remains a risk-on threshold
Gold
Gold is choppy and nearly untradeable for trend followers right now — lots of whipsaw behaviour.
- Immediate resistance: ~5,180 to 5,200 — a decisive close above here would be a shakeout/blowoff type move
- Support: 50-day moving average around ~4,670 with attractive dip-buy opportunities around ~4,620–4,650
For traders who like mean-reversion plays, placing limit buys near the 50-day has historically produced nice quick bounces. Treat any break above 5,200 cautiously; it can act like a short-term exhaust move.
How I use the technical cues
Practical rules I follow when charting and trading these setups:
- Respect momentum: RSI above 50 (and especially above 60) supports continuation trades. Rebounds from 50 are often buy signals.
- Key moving averages: 50-day for shorter-term support, 200-day for longer-term health. A re-test of the 50-day can be a favourable entry for trend-following setups.
- Support and resistance closes: I want end-of-day closes above resistance for confirmation and end-of-day closes above support to validate the trend.
- Use limits near the moving averages: Buying near well-tested 50-day areas has historically offered a favourable risk/reward on many names mentioned here.
Final thoughts
Indices remain constructive while holding key levels, but cryptos and gold demand caution due to clustering of support/resistance and volatility. The small-cap list contains several interesting technical setups — many hinge on holding specific moving averages or RSI rebound behaviour. Watch for company news and end-of-day closes; those are the details that turn charts into trades.
More updates are likely over the weekend as patterns evolve and catalysts arrive.
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.
