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, Amazing AI, B90, Blencowe, Brave Bison, Cadence, Defence, Empire Metals, Genel, Greatland, Kefi, Mast, Mendell, Pan African, Roadside, Thor Explorations.
In this market update, I review the charts that matter today — major indices, cryptocurrencies, gold, and a selection of small-cap bulletin board stocks I follow closely.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Below, I summarise technical levels, short-term targets and what I’m watching next. The tone here is practical, focusing on levels, RSI behaviour, and the key moving averages that will dictate the next moves.
Quick market overview
Across the major indices we have a mixture of fragile supports and pockets of upside momentum. The theme I keep returning to is the importance of holding key trend-channel floors and the neutral RSI 50 level — lose those and the downside risk increases. Conversely, sustained closes above the 50-day moving average and repeated RSI 50+ rebounds are constructive and set up higher targets over the coming weeks.
FTSE 100
The FTSE is still negotiating the floor of a rising trend channel drawn from June. Nominally that channel floor sits around 9,200 — today’s low printed near 9,194. A failure at that channel floor would likely take the index down toward the 50-day moving average near 9,157, which I view as the next important support.
“”We need to hold RSI 50 and the floor of that channel.””
If we can hold RSI 50 and the channel floor, I’m targeting a move back to the record highs around 9,357 in the coming days and potentially up toward 9,500–9,520 (even 9,530) by the end of next month. Below the 50-day would increase the risk of a deeper pullback.
DAX
The DAX has felt pretty dead recently, trading either side of the nominal floor of its April-to-date channel around 23,600. The worst case I’m watching is a roll down toward the 200-day line near 22,750.
On the upside a convincing end-of-day close above the 50-day moving average (currently just below 24,000) would be the trigger for a more meaningful rebound. While the RSI has been failing below neutral 50, the theoretical upside remains to roughly 25,700 by the end of next month — but there’s a lot of work to do first.
Dow Jones
The Dow has produced multiple strong RSI 50+ rebounds (even RSI 55+), which is constructive. While we remain on the right side of 45,000 the upside target I’m looking at is roughly 47,700 by the end of next month. The 50-day line sits near 44,950 and has been a reliable support in recent sessions.
Cryptocurrencies
Bitcoin
Bitcoin’s technical picture deteriorated recently with a breakdown below the 50-day moving average (around 114,000 in my charting). The price is now rapidly approaching the floor of the rising channel that began in March, near 111,000. Below that, recent support around 107,000 becomes the next reference point.
At this stage only a quick end‑of‑day close back above the 50‑day at 114,000 will delay the risk of moving sub‑110,000. The RSI has slipped under neutral 50 and sits around the mid‑40s, which is not encouraging for bulls.
Ethereum
Ethereum has also struggled. While the bullish scenario (5,500 by the end of next month) looked plausible when ETH was above its 50‑day line (4,377), that picture has faded after losing the 50‑day. Initial support is near 4,050, with a deeper support at roughly 3,930 from July. The RSI has fallen below 50 as well.
Gold
Gold continues a steady advance above 3,600. The structure looks like a mid‑move consolidation — an extended bull flag inside a rising trend channel that started in April. My near-term target is about 3,850 by the end of next month (top of the channel).
Selected small caps — chart-by-chart notes
Below are the individual charts I reviewed, the key support levels I’m watching and the short-term targets I’d expect while the bullish structures remain intact.
Amazing AI
Found support above the 50‑day (currently 1.13p) and has recently been trading around 1.4p with an RSI 50+ rebound. While staying above the 50‑day, I’m looking for a test of the top of the gap near 2.7p by the end of next month (or potentially sooner).
B90
B90 released a positive update and gapped through recent resistance, now trading above c.3.75p. The chart looks strong with unfilled gaps and an extended RSI 50+ rebound. My target is around 5.25p next month (or earlier if momentum continues).
Blencowe Resources
Blencowe has hit the first/second targets (printed 6.2p on an end‑of‑day basis). The shares are bouncing off the uptrend line in the RSI window and trading well above the rising 50‑day. On continued strength I’m targeting c.8p by the end of next month.
Brave Bison
Technically and fundamentally attractive right now. It’s in a rising channel from June last year, and while we remain above old July resistance (73p), the upside target is the channel top near 94p by the end of next month. Both 50 and 200 day lines are rising, which helps the case.
Cadence Minerals
Cadence is in recovery mode after a decent RSI 50+ rebound. A clean end‑of‑day break through the second target at 3.9p would open a path up toward ~6p by the end of next month. I expect the shares to stay on the right side of 3p while this recovery continues.
Defence Holdings
Trading in a wide rising trend channel and now above 2p after hitting targets. There’s an uptrend in the RSI window as well. I’m looking for as high as 3.5p by the end of next month while staying above the 2p level; the channel floor and RSI support are key.
Empire Metals
Seems to have shaken off recent news noise. Above 49p the shares look set to move back to the top of the channel (the lilac line) around 74p in the near term. Despite a near‑doubling from the lows the RSI is modest (~58), so there’s still room for further upside.
Genel Energy
Not my most frequently covered name but it has shown a nice RSI 50 rebound and a bounce above the rising 50‑day (around 63p). A proper end‑of‑day close through 70p would be constructive, though oil price dynamics will influence the pace.
Greatland Resources
In revival mode after two unfilled gaps to the upside — a double bear‑trap/island reversal kind of action. Triple RSI 50+ rebounds and a rising 50‑day line add strength. I’m targeting roughly 414p next month.
KEFI Gold and Copper – Requested stock
This one is above the 0.8p area we were watching and the near target is 1.1p by the end of next month (possible sooner). If momentum continues, a longer‑term target could be around 1.75p by year‑end. For now, staying on the right side of 0.9p is ideal.
Mast Energy
Mast has been reclaiming former support on the way up and looks similar to Empire Metals in structure. Above 133p and targeting the 170s by the end of next month, though I suspect it could continue higher given the strong rebound and modest RSI (56).
Mendell Helium (helium producer)
Mendell looks interesting as a producing helium play. We’ve had a bull‑flag breakout above the rising 50‑day and a positive RSI 50+ rebound. It’s back above recent resistance and the 200‑day (2.56p). I’m looking as high as 6p by the end of next month — an intriguing setup, particularly given production fundamentals.
Pan African Resources
This is a rare parabolic ascent on the chart. The shares are heading for the top of a rising channel near 115p, ideally by the end of next month while staying above recent broken resistance around 85p (allowing for a move down to 80p intraday if necessary).
Roadside Real Estate
There’s chatter about Roadside on social media. My initial target is 63p (hopefully by the end of this month). The best‑case channel target is up to 83p by the end of next month, provided we hold the latest gap area near 54p on an end‑of‑day basis. Conservative stop would be the 50‑day line at 51p.
Thor Explorations
After a gap down earlier in the month the stock has gapped up and registered three RSI 50+ rebounds. While remaining above the channel floor (55p) I’m looking for the channel top near 80p by the end of next month.
Conclusion — what I’m watching next
Short term the charts will be decided by a few simple things: holds of rising channel floors, the 50‑day moving averages and whether RSI can consistently trade above 50. For the majors, failure below those floors/50‑day lines brings the 200‑day and prior support into focus. For the small caps, continued RSI 50+ rebounds and end‑of‑day closes above recent resistance/gap levels will confirm the next leg up.
I’ll be watching those levels closely and will post further updates as price action dictates. More updates tomorrow.
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.
