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, Atlas, Cab Payments, Evoke, Focus Xplore, Hardide, NARF, Synthomer, Strategic Minerals, Wishbone,
Across indices, crypto, commodities and smaller UK stocks, the story is similar: markets are looking for support, momentum is mixed, and the next move depends on whether price can reclaim key levels on an end of day basis.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
FTSE 100: Near the 10,000 line, with one more test possible
The FTSE 100 has been bouncing around the 10,000 level. After dipping slightly below the low point from the previous session, price is now hovering just about that psychological area.
The market has been treating 9,930 (old November resistance) as a potential support zone. That is important because, technically, if resistance flips to support and fails, you often get another push down before the market decides it is “done” for the moment.
Bottom line: Support may be forming at 9,930, but momentum is not fully washed out yet, so another dip is still plausible.
DAX: Post November support at 22,900, but RSI still looks vulnerable
The DAX has been hunting for support around the 22,900 zone, which lines up with post November support and also sits near the floor of a rising trend channel from April.
Price has been trading both sides of this level, essentially probing whether buyers are willing to defend it.
Bottom line: 22,900 is the battleground. RSI is close to oversold, but not quite there, so a further probe lower is still on the cards.
Dow: Oversold and still heavy under the 200-day moving average
The Dow looks weaker than the others mentioned so far. It is now in oversold territory and trading well below the 200-day moving average around 46,500.
Oversold can mean “bounce soon”, but it does not guarantee it. When price is below major moving averages, downside can continue until demand clearly steps in.
Bottom line: “Bottom fishing” may feel tempting, but technically the structure still leaves room lower.
Bitcoin: Failed to reclaim the 50-day line, but there is still a plan
Bitcoin improved in tone, but the market did not manage to hold a push above the 50-day line, which is around the 69,000 area. That failure is disappointing because it stops buyers from taking control.
There was also a break of an uptrend line in the RSI window, which is typically a negative sign for momentum.
Bottom line: The 50-day is currently acting like a thin fig-leaf support. Hold it and retest resistance. Lose it and things can accelerate down.
Ethereum: Slightly better RSI, still capped from the 50-day
Ethereum also disappointed on reclaim attempts above the 50-day area. However, the momentum picture is less ugly than Bitcoin’s. Key levels The 50-day line is around 2,069. Above it, there can be downside resistance to contend with near 2,400 (this month and also in February).
Bottom line: Ethereum has a better momentum base, but it still needs to prove itself against resistance.
Gold: The surprising part is the break of trend support
Gold has had its own shock moment. The market broke below the floor of a rising trend channel from the end of 2024 and also broke the October uptrend line around 4,660.
This matters because it changes the near term map. Gold is often treated as a geopolitical hedge, so traders usually expect it to stay firmer during uncertainty. Yet technically, the structure has shifted. If price stays below 4,660, the risk is a retest of 4,530 (February support and also the market low on 4530 yesterday).
Bottom line: Wheels aren’t necessarily off, but gold has gone from “supportive trend” to “support test” mode.
WTI (Crude): Range trading, with clear triggers for upside or a pullback
WTI is stuck in a range roughly between the low 90s and the $100 level. In this kind of market, the levels matter more than predictions. An end of day close above $100 could trigger an acceleration towards $120. An end of day close below $92 could bring back the old resistance/target near $87.
Bottom line: Wait for the close. The market is currently telling you it is undecided, not directionless.
The practical takeaway: respect closes, respect support, and let RSI confirm
Across FTSE 100, DAX, Dow, Bitcoin and gold, the consistent method is the same:
- Watch the key level (often an old resistance turned support, or a major moving average).
- Wait for the end of day close where the plan depends on it (FTSE 100, WTI, and the broader risk map).
- Use RSI as confirmation, not as a standalone signal. RSI in the 30s can mean “room for one more dip”, while RSI above neutral can support a rebound attempt.
That is what makes today’s chart notes feel like a set of clear decisions, not vague hope. If support holds and momentum improves, the upside levels start to matter. If support fails, downside tests become the path traders expect next.
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.
