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, Buccaneer, Calnex, Fulcrum, Hemogenyx, Microlise, Norman Broadbent, Orosur, Pantheon, RC Fomax, Rockfire, Surface Transforms, Shield, Smarter Web, Vault.
In today’s market rundown I take a chart-first look at the big indices, cryptos, gold and a basket of small‑cap stocks I’m watching closely. Below you’ll find the key levels, momentum clues (RSI and moving averages) and realistic upside/downside scenarios I’m watching for each instrument. Read on for actionable levels and short-term targets.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview
My approach: give the benefit of the doubt to the trend so long as price stays above the key supports and the 50‑day moving averages. If RSI falls below neutral 50, be cautious and wait for confirmation.
Indices
FTSE 100
The FTSE remains inside a rising trend channel that began back in June. On the downside watch the channel floor — around 9,140 — with immediate activity on the right side of the channel near 9,200 . The top of the channel could take us as high as 9,450 by the end of next month (and possibly sooner).
Momentum: RSI sits in the mid‑50s — a comfortable place for further upside. Worst case is a test of the 50‑day moving average, roughly around 9,177 , but the market hasn’t closed below that line since early May, so I remain biased to the upside while that holds.
DAX
The DAX has bounced off what looks like the mid‑channel line (around 23,400 ). The RSI is below neutral 50, which raises the risk of a test of recent support — either the August support at 23,400 again or the June lows around 23,000 .
If you’re cautious, wait for another day close with RSI back above 50. With the 50‑day line falling and RSI below 50, the short‑term bias is slightly to the downside until momentum improves.
Dow Jones
Simple rule here: it’s “great while we’re above 45,000 , not so great while we’re below 45,000 .” Currently the index is just above that level despite last week’s pullback. The top of the rising channel from May last year points toward about 47,500 .
Both the 50 and 200‑day moving averages are rising and RSI is in the upper‑50s — supportive of an upside bias. For now I’d favour buying dips rather than selling into strength, provided we remain above the 50‑day (~ 44,600 ).
Cryptocurrencies
Bitcoin
Bitcoin is sitting at the floor of a rising trend channel that began in late February/early March. Momentum is soft: RSI is under neutral at about 47 , so consolidation continues and there’s risk of a pullback to July support around $105.00 (worst case the 200‑day sits near $102.00 ).
If you want confidence in a renewed uptrend, look for an end‑of‑day close above the 50‑day moving average (just under 11,500 ) and an RSI back above 50. Best case while we stay above the channel floor near 10,900 is a run toward 13,000 by the end of next month.
Ethereum
Ethereum remains just about holding the rising trend from early July. The 50‑day line (4,150 ) is the key short‑term support; a clean close above intraday resistance at 4,500 or an RSI back above 50 would be simple momentum triggers. Upside target is the top of the channel near 5,500 in short order if those conditions are met.
Gold
Gold has been the star lately. It’s tracking a rising trend channel and I’m watching the top near 3,800 . Recent support around 3,500 (former April resistance) is the staging area — while we stay above that level, higher targets look very plausible and could arrive quickly.
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.
