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, Crude Oil, Blue Star Capital, Corpus Resources, Cindrigo Holdings, Finseta, Galantas Gold, Greatland Resources, Iconic Labs, Mendell Helium, Orosur Mining, RC Fornax, Shield Thera, Raspberry Pi, and WeCap
The common theme across indices, crypto, gold and commodities is level-based trading—watch the moving averages, watch RSI around 50, and treat breakouts as “conditional” until the market proves it can follow through.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
FTSE 100: bulls in control, but don’t lose the channel floor
The FTSE 100 (Footsie 100) has been behaving as bulls would like, especially with the index breaking above key trend and moving-average areas.
Key bullish levels
- Rising trend channel support floor: around 10250
- 50-day moving average: just above 10300
- Upside target: 10500 in coming days
The “please don’t” level on the downside
For continuation, the priority is that the market does not slip back below the channel floor around 10250. RSI is also a guide here. A key concern would be momentum falling back so RSI loses the positive zone.
Downgrade scenario to watch
If the index breaks down, the hope is it stays the right side of 10000, which ties into a broken resistance area. There is also a gap reversal element in play, described as a bear trap gap reversal: gapping down earlier in the month and then gapping up today. However, that bullish story still needs confirmation.
What would confirm it: an end-of-day close back above the top of the gap around 23400 (and the next magnet would be the 200-day line near 24000).
DAX: bounce from the falling channel, with an end-of-month “best case”
The DAX theme is bounce-and-repair rather than full acceleration yet.
What’s happened
- Price bounced off the floor of a falling trend channel.
- It did not yet print a decisive new leg down.
- Support has a structure anchored by the 200-day moving average around 46700 (just under 46,700).
Best case targets
- By end of month: back to the top of the falling trend channel around 48500
- Then potentially challenge the 50-day moving average (blue line reference)
What would invalidate the rebound
A key condition is that there is no end-of-day close back below recent broken support around 45300. There’s also mention of bullish divergence, which often supports the idea that the worst is over, but divergence is not magic. It still needs confirmation with price.
Dow: bouncing, RSI support, and a “get back to the top of the channel” goal
The Dow setup aligns with the “worst may be over” idea, but it is still in a repairing phase rather than a clean trend reversal.
- Price bounced from the falling trend channel floor.
- Initial resistance sits near the 200-day moving average around 46700.
- The best-case route is to retest the top of the falling channel toward 48500 and then move above the 50-day.
Bitcoin: escaping the falling channel, but RSI still needs work
Crypto is trying to do what charts love: reclaim a falling channel and move toward the top of the range. Bitcoin is showing the attempt, but there is a momentum caveat.
Bitcoin levels
- Falling trend channel: around 70300 on an end-of-day close basis
- Current momentum detail: RSI is still below neutral at 48
- Range target: 75000+ (with an emphasis on the first half of April)
Near-term, the chart is “toying with” the 50-day moving average just above current levels. The next trigger would be breaking the top of the falling trend channel once price and momentum cooperate.
Ethereum: better structure, stronger momentum, and a path to 2500+
Ethereum is described as doing a bit better than Bitcoin. The RSI is not only above neutral but has pushed through it.
Ethereum levels
- Rising 50-day moving average support: around 2041
- RSI: pushed through neutral to 53
- Upside zone: recent resistance around 20xx to 2400
- Next target: top of the falling trend channel around 2500 by end of month or sooner
- Lower momentum “don’t lose” line: the uptrend line from February near 1960
If price holds above the uptrend line and keeps RSI above 50, the odds of continuation improve. The only “missing piece” is that momentum still needs to remain constructive as the chart pushes higher.
Gold: watch the RSI reset and the 5000 area
Gold is still in the “something is building” category, with a favourable tilt as price moves toward the next major marker.
- Level to watch: 46xx to 5,000
- Implication: as gold firms, there are chart setups among the miners and related small caps that can benefit.
Crude Oil: fundamentals turning, oil down while stocks lift
Oil is acting more fragile, and the interpretation is that the fundamentals are back in favour of the bears, or at least less supportive for upside.
Oil levels
- Rising trend channel floor: around $91
- Upside target (if support holds): toward $112
The key is simple: as long as oil stays above that $91 channel floor, the rising-trend argument remains intact.
The key takeaway: confirmations matter more than predictions
The repeat message across indices, crypto, gold and these bulletin board charts is that the market is building conditions, not delivering guarantees.
So if you want to apply this approach:
- Use levels as rules: support floors, moving average zones, and end-of-day close triggers.
- Respect RSI around 50: above 50 helps; below 50 makes breakouts suspect.
- Look for follow-through: breakouts are conditional until price and momentum prove it.
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.
