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 Oil, Ascent Resources, BSF Enterprise, Coro Energy, Catenai, Delta Gold Technologies, Pantheon Resources, Powerhouse Energy Group, and Silver Bullet Data Services Group
The through-line across the day is simple: markets are still reacting to big external drivers, but price action is now coming back to technical levels like moving averages, channel boundaries, and prior support or resistance.
As always, do your own research and treat these as chart-based observations rather than hard recommendations
FTSE 100: holding up despite oil strength
The FTSE 100 is behaving better than you might expect given crude oil is up strongly (around +7% at the time of the analysis). Rather than selling off, the index is practically flat, trading either side of the 50-day moving average.
What to watch:
- Potential near-term bullish trigger: an end-of-day close through 10,400 could open the door to 10,600.
- Support and “line in the sand”: the previous March support zone sits around 10,800 (framed as a level hoped not to break).
- Reclaim signal for a move back down towards 10,000 (yes, down from here): a move back through 10,250 at the close was described as a sign the market could test 10,000 again.
- Momentum: RSI around 54 remains supportive for a recovery attempt.
DAX: weak structure, higher-risk for shorts
The DAX picture is less comfortable. Price action is framed as a “mess” inside a falling trend channel. In this type of structure, the market tends to respect the channel boundaries and make directional decisions when it loses or reclaims the key lines.
Key levels:
- Upper channel target: 23,800. This is the upside objective while price holds the channel behaviour.
- Major “line in the sand”: a gap-related floor around 22,800.
- Recent swing low: roughly 22,200. The RSI is sitting around 50, and the analysis notes a failure at this point.
- Directional bias: trading the breakdown structure, the suggestion was that today could be a day to go short if the market fails and then targets 22,200 or lower.
- Lower channel objective: the channel floor is heading towards about 21,500.
Macro headline risk was also referenced (including Trump-related talk overnight), but the framing is clear: until the DAX recovers the structural levels, sellers have the advantage.
Dow: bouncing off the falling trend’s floor
The Dow has been framed as stabilising. It’s described as having bounced off the floor of a red falling trend channel and nudged against the 200-day moving average, which sits just under 46,700.
What would confirm the next leg:
- An end-of-day close above the 200-day moving average area is seen as the signal to push toward 48,000.
There was also a softer narrative element: with geopolitical headlines (Iran) in focus, the market is still, in effect, hoping for “peace rather than anything else.” Even when technicals lead, narratives can influence whether dips are bought.
Bitcoin: needs a close above 70,000 to avoid disappointment
Bitcoin is trying to break out of a falling trend channel, with the “line in the sand” around 70,000. It has failed so far, including failing just above the 50-day line (around 68,600).
Key scenarios:
- Bullish continuation: an end-of-day close above 70,000 would open the way to 75,000 and a retest of last month’s resistance.
- Slower recovery vs. “risk-off” rug pull: RSI is described as holding an uptrend line, but the recovery is not “convincing.” The concern raised is that a larger downside risk emerges if there is an end-of-day close through 65,000.
The “pattern feel” matters here. The analysis likened the current behaviour to earlier “November, January type” conditions, where follow-through can be hard to trust and the market can flip quickly.
Ethereum: still struggling at the 50-day, but support tests are defined
Ethereum looked more bullish than Bitcoin earlier, but it is still struggling at the 50-day line. The structure includes an uptrend line above 1,940, and the RSI is currently below 50, which often implies the market can be drawn into a support test.
Targets and risks:
- The triangle resistance area is framed as a potential upside target if momentum improves.
- With RSI below 50, the market could need to test for support, including a retest around 1,940.
Gold: watch 4,300, but the 200-day line is the key threat level
Gold was singled out as particularly interesting. The expectation is that the low may have been seen, with a “one-touch” test of the 200-day line. That 200-day level is at approximately 4,139.
Key moving average context:
- The 50-day line is around 4,951 (above the current area, suggesting pressure if gold fails to build momentum).
- If gold loses control, the analysis flags a risk of testing down towards 4,360, described as recent support.
Near-term support focus: the market is peaking out near 5,000, but the key condition is staying above 4,300 to avoid the more negative scenario.
Crude oil: staying above 102 keeps 112 on the table
Crude oil is the market driver of the moment in this bulletin. The structure described includes a rising trend channel. The top of the channel is around 112 and the immediate decision level is whether price can hold above the previous resistance near 102.
The bigger takeaway: technical levels are the decision points
Across indices, crypto, and London bulletin board names, the common theme is that moving averages and channel boundaries are acting like decision zones. The analysis repeatedly uses the same logic:
- Look for an end-of-day close to confirm moves.
- Use 50-day and 200-day moving averages as momentum and risk gauges.
- Respect support floors and resistance ceilings because breakouts and breakdowns tend to come with confirmation.
As always: treat these as chart-based observations and education, not a recommendation. Do your own research, especially given that small caps can move sharply on news flow and liquidity changes.
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.
