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, Altona, Anglesey, Chill Brands, Crism, Directa, First Class, Inspecs, Kosmos, LPA, Richmond Hill, Strategic Minerals, Seraphim, Tungsten West, Warpaint.
Quick, chart-driven notes on the major indices, crypto, gold and a selection of small caps showing interesting technical setups. Levels, risk management and target windows are included so you can see where the charts are pointing over the next few weeks.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Major indices: FTSE 100, DAX and Dow
FTSE 100
The FTSE remains inside the range we’ve been tracking between the two red trend lines. Key levels:
- Support: ~10,250 (lower red line). Worst-case rug pull to ~10,150.
- Near-term target: ~10,500 by the end of the month.
- Momentum: RSI around 65, staying above the 60 level since late December — not overbought yet.
- Warning: The pattern could be behaving as a rising wedge. If price breaks down through 10,250, that becomes a negative setup.
DAX
DAX is bouncing along the rising 50-day moving average and sitting above ~24,500.
- Near-term target: ~25,600 (May resistance line projection) by the end of the month.
- Support if things go wrong: the 200-day line ≈ 24,000; but having bounced off the 50-day several times, a break would be surprising.
Dow Jones
Dow enjoyed a solid close through the 50,000 mark. The channel structure is constructive.
- Floor of channel: ~49,200.
- Target: ~52,200 (top of the December channel) by the end of next month.
- Support on a sell-off: the 50-day moving average at ~48,600 — consider a limit order there if you want to get in on dips.
Cryptocurrency: Bitcoin and Ethereum
Bitcoin
After a sharp bounce on Friday that had a bit of a dead-cat-bounce feel, BTC is consolidating and looks like a potential bear-flag continuation while it remains under last year’s resistance.
- Resistance (daily close basis): ~72,000–74,000.
- Retest risk: likely a move back to the 60,000 area or sub-65,000. The “real” deeper support sits around the old 2024 zone of ~53,000–52,000.
Ethereum
ETH has outperformed Bitcoin recently but carries downside risk while below the $21.50 area.
- Floor from last year: ~$13.90 (longer-term reference).
- Near-term risk: a retest of recent support near ~$17.50 if ETH cannot reclaim $21.50.
- Upside: resistance on the way up around $2,400 is distant for now.
Gold
Volatility has picked up in gold, suggesting caution. However, the 50-day moving average has acted as a reliable buy point in recent bounces.
- Technical behaviour: repeated strong bounces near the 50-day MA; RSI has bounced around 50 multiple times.
- Resistance to watch: the recent peak around ~5,091–5,100. A break above this could push toward ~5,600.
- Approach: with volatility high, standing aside or protecting positions until a clean break is preferred for many traders.
Risk management and final observations
Market structure is still favouring higher prices in a number of areas, but keep a close eye on RSI behaviour and the key moving averages. The 50-day MA has been a useful support level across multiple instruments, and breaking below it would force a reassessment of the bullish case.
If you are not yet invested in an index move, consider limit orders at sensible moving-average support levels rather than chasing rallies. For small caps, respect end-of-day closes above or below the key levels listed above before committing to positions.
I’ll be watching these levels closely and updating the targets as price action unfolds.
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.
