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, Alien Metals, Corcel, Catenai, ECR, EnergyPathways, Fusion Antibodies, Fiinu, Metals One, Petra Diamonds, Solvonis, Trellus.
Welcome to a comprehensive market update inspired by Zak Mir’s detailed charting analysis from his latest insights on August 8. In this article, we’ll explore key movements and technical outlooks across major indices, cryptocurrencies, precious metals, and a selection of promising stocks. Whether you’re following the FTSE 100, DAX, Dow, Bitcoin, Ethereum, or specific shares like Fusion Antibodies and Petra Diamonds, this breakdown offers a clear view of current trends and potential price targets.
Global Indices: FTSE 100, DAX, and Dow
The FTSE 100 has been holding a steady uptrend since June, with important resistance around the 9,060 level. Looking ahead, the market eyes the 9,250 to 9,400 range as potential upside targets by the end of next month, with the RSI hovering just below 60—a healthy zone for further gains. However, traders should be cautious of a possible “rug pull” scenario, with a downside risk toward the 9,000 mark, similar to earlier this month’s dip.
Turning to the DAX, the index recently hit a resistance line from last month near 24,400 but failed to break through decisively. A daily close above this level is necessary to push toward the channel top around 25,400 by month-end. On the downside, the 50-day moving average near 24,000 is expected to provide support, though a dip toward 23,400 remains a possibility. The RSI sitting just above neutral at 52 suggests a balanced outlook with slight upward bias.
The Dow Jones remains somewhat unsettled, trading in a range between 44,000 and 45,000. The 50-day moving average at 43,600 and the record highs around 45,000 frame this range. The market is likely to experience a random walk, with potential moves in either direction. A dip below the neutral RSI level may increase the risk of a test near the 200-day moving average just under 43,000.
Cryptocurrency Market: Bitcoin and Ethereum
Bitcoin’s price action remains centered around the 115,000 level, echoing the range observed in July. A decisive daily close above 121,000 would signal momentum toward the upper channel boundary from March, potentially reaching 130,000 by month-end. On the downside, the 112,000 level—aligned with the 50-day moving average—is expected to offer strong support, with a lower support area around 105,000 if the market weakens.
Ethereum is showing renewed strength, with an optimistic outlook targeting 4,400 by the end of August. The price remains above the March black channel top at 3,550, and RSI rebounds above the neutral 50 level support this bullish momentum. Should a pullback occur, the 3,500 area is anticipated to act as a solid floor.
Gold: Tariff Impacts and Technical Outlook
Gold prices have been buoyed recently, possibly influenced by tariff-related developments. Resistance at 1,430 remains a key level to watch; a daily close above this could open the door to 1,480 by the end of the month. The rising 50-day moving average and RSI at 57 support further upward movement. On the downside, the floor of the rising trend channel near 1,330 is expected to provide strong support.
Selected Stocks: Promising Moves and Targets
Alien Metals: UFO has found solid support around the 0.11 level, with targets set near 0.18 by the end of August. Both the 50-day and 200-day moving averages are rising, and RSI rebounds above 50 suggest positive momentum building.
Corcel: CRCL is approaching the best-case target of 0.46, contingent on maintaining price above the 50-day moving average at 0.37. RSI bounced just below neutral 50, signaling cautious optimism.
Catenai: CTAI appears to be breaking out of a falling wedge pattern and bouncing off a rising 200-day moving average. The shares could reach the low 30 pence range, supported by a 50-day moving average around 30 pence and RSI just above 50, making Monday an interesting day for potential trades.
ECR Minerals: ECR, with its newly adopted Bitcoin strategy, started August strongly, gapping higher. The 50-day moving average is rising, with potential upside to mid 0.25 pence and a longer-term target near 0.32 pence by month-end. RSI bouncing at neutral 50 adds to the positive case despite some lingering sluggishness.
Energy Pathways: EPP is showing signs of revitalization, with multiple RSI bounces off 50 and a rising 50-day moving average. Initial targets hover around 8 to 8.4 pence, with an optimistic goal of 12 pence by next month, aligned with the rising trend channel from October.
Fusion Antibodies: FAB has exceeded expectations, doubling in value after breaking resistance near 7 pence. The shares are eyeing the upper parallel of the rising trend channel, with targets above 13 pence and up to 20 pence by the end of August.
Finu: BANK recent news has been bullish, with the price channel top at 15 pence as the target while holding above the gap floor at 9.6 pence.
Metals One: MET1 is attempting a turnaround, having found support near 4 pence. Staying above this level could see the price climb toward 7 pence, which was an old support level from June.
Petra Diamonds: PDL experienced a significant reversal, gapping down in May and now gapping back up. It’s crucial to stay above recent resistance near 15.5 pence to target resistance at 21 pence over the next week or so, signaling potential follow-through strength.
Solvonis Therapeutics: SVNS appears poised for a new upward leg, consolidating around 0.3 pence, which was a previous target. Holding above 0.29 pence could lead to resistance tests around 0.46 pence by month-end, supported by multiple RSI rebounds.
Trellus Health: TRLS has already met previous targets and is now aiming for the upper parallel of the June rising trend channel, targeting 2.14 pence. Maintaining support above 1.1 pence could see the price push beyond 2.2 pence in the coming weeks.
Conclusion
August is shaping up to be an intriguing month across markets, with clear technical setups and targets emerging in equities, cryptocurrencies, and commodities. From the FTSE 100’s steady uptrend to Bitcoin’s critical resistance levels and the promising momentum in select stocks like Fusion Antibodies and Petra Diamonds, there are multiple opportunities for traders and investors to consider.
As always, staying attuned to key support and resistance levels, moving averages, and RSI signals will be essential for navigating the coming weeks. Keep a close eye on daily closes and volume to confirm these setups and manage risks effectively.
For more in-depth analysis and timely updates, following expert chartists like Zak Mir provides valuable insights that can help inform your market decisions.
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.
