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, WTI Crude Oil, Anglesey, Acceler8, Active Energy, ExchangeXR, Finseta, Judges Scientific, Mercantile, Ondine, Powerhouse, SkinBio, Tamar, TAM, TinyBuild, Upland.
There is a lot going on across the major indices, crypto, commodities, and a clutch of smaller shares that are beginning to shape up technically. Some charts are already in motion. Others are still waiting for confirmation. But a recurring theme keeps appearing: markets and stocks that are holding above rising 50-day moving averages often have the potential to deliver their next meaningful leg higher.
That is the main lens here. If price is shuffling sideways above a rising 50-day line, that is often a continuation pattern. In many cases, it can also be the setup for the biggest move on the chart.
As always, do your own research and treat these as chart-based observations rather than hard recommendations
FTSE 100 still looks constructive
The FTSE 100 had a frustrating moment after briefly pushing above the resistance line drawn from March near 10,480, only to slip back underneath. On the face of it, that was disappointing. Even so, the bigger picture remains positive.
The key point is that the index has bounced from a rising 50 day moving average, around 10,470. That sort of rebound is often a continuation signal rather than a warning sign. As long as there is no daily close back below that level, the bias still favours the upside.
The upside targets remain:
- 10,700 by the end of this month
- 10,900 as a more ambitious target by the end of next month
The RSI also supports the bullish case. A rebound from around the 50 zone, with the indicator now in the upper 50s, is often exactly where a healthy uptrend rebuilds.
DAX holding above the key 25,000 area
For the DAX, the focus remains the January resistance line around 25,000. While price stays above that zone, the outlook stays firm.
The target from here is roughly 26,300 by the end of next month. That lines up with the top of the trend channel from March as well as a projected resistance line stretching out from November 2025.
On the downside, the ideal outcome is for the index to stay above the gap floor near 24,700. Even in a weaker scenario, the worst likely pullback looks like a retest of the 200 day moving average, just under 24,200.
Dow pushing toward another breakout
The Dow has remained buoyant, helped by improving sentiment and a broader risk-on tone. The technical trigger to watch is a daily close through 52,000.
If that level gives way, the next target comes in around 53,300, based on a projected resistance line from November. That could be reached by the end of next month, possibly earlier if momentum builds.
Ideally, the index now holds above recent support at 51,000. A more bearish scenario would involve a retreat toward the 50 day line near 49,961, but for now that does not look like the most likely path.
Bitcoin and Ethereum improving, but not fully repaired
Bitcoin
Bitcoin has improved enough to regain the old March support at 65,000. That level now matters a great deal. Staying above it keeps the door open to a return toward 71,500, where the old support line from February has become resistance.
A move to that area would also mean re-entering the rising trend channel that held after February.
On the downside, the expectation is that support should still emerge in the low 60,000s if needed. That would amount to another retest of the broad 60,000 area before another attempt higher.
Ethereum
Ethereum is focused on one level above all others: 1,753. That was old support from February and has now turned into resistance.
The encouraging development is that price has managed to remain properly above that zone. If that continues, the next target is the top of the falling trend channel from July, which points to about 1,980 by the end of this month.
The bullish case remains intact while Ethereum holds above the 1,750 area.
Gold still trying to recover
Gold reacted in a slightly counterintuitive way, with improved geopolitical sentiment not leading to fresh weakness in the metal. Even so, gold has already suffered a substantial pullback from its January peak.
From here, the chart suggests an initial rebound target at the 200 day moving average near 4,455. If momentum strengthens, the best case target is the 50 day moving average at 4,572.
On the downside, another retest of the 4,000 to 4,100 region cannot be ruled out, especially given how often that area has been revisited this year.
WTI crude oil still looks vulnerable
Crude oil is not shaping up particularly well. A second gap down has now appeared on the chart, and that rarely helps the bullish case.
The earlier gap in May already served as a useful warning sign and marked a good selling area near $95, in line with the 50 day line. The latest setup points lower while price remains below the top of the new gap around $83.
The main levels to watch are:
- $76 for the floor of the falling trend channel from April
- $73.59 for the 200 day moving average
- $68 as a deeper downside possibility if the February gap gets filled
That final target would be particularly uncomfortable for anyone still trying to hold a bullish position in oil.
Small cap shares
Anglesey Mining: Anglesey Mining has a decent technical setup. The 15 day and 200 day moving averages are rising, and the shares have been consolidating above a rising 50 day line. That is often the classic big move setup. The target is 9p, potentially by the end of next month, while the shares stay above the channel floor near 4.2p. For a more cautious approach, a daily close above recent resistance at around 5.2p would improve confidence.
Acceler8 Ventures: Acceler8 Ventures may not be on many radars, but the chart is hard to ignore. The shares appear to be in a rising trend channel and have also been stabilising above a rising 50 day line. Again, that hints at a possible big move setup. The chart points to the top of the channel near 400p to 420p over the next two to three months. The bullish case improves while price stays above the broken resistance around 215p, and ideally above the 50 day moving average at 197p. A stronger base above those levels would keep the upside scenario in play.
Active Energy: Active Energy received supportive news and has been trying to recover off the lows. The shares have gapped up toward the rising 50 day moving average, which is often an early sign that momentum is changing. While price remains above the channel floor near 0.09p, the target becomes 0.15p by the end of next month. More cautious traders may prefer to wait for a proper break of overhead resistance, along with an RSI move above 50 and a rising 200 day line, before assuming the move has fully turned.
ENGAGE XR Holdings: ExchangeXR has the look of another strong setup. The shares have been shuffling sideways above a rising 50 day average this month, which is often the prelude to a sharp move. A break above recent resistance at 0.26p would open up: 0.40p at the top of the rising trend channel from March, 0.47p by the end of next month in a more aggressive move. It is a punchy target, but the chart itself is punchy too.
Finseta: Finseta is beginning to look more interesting again. The shares are rising, the 50 day line is turning higher from the lows, and there is a bullish divergence showing up on the RSI. The main trigger is a break above the falling trend channel from September, around 13p. If that happens, the chart points toward the top of a developing triangle formation near 23p by the end of next month. The 200 day line sits just above that trigger area, so there is a natural technical hurdle to clear. But if it does clear, the upside could become meaningful.
Judges Scientific: Judges Scientific is not a stock that gets much attention, but the chart is improving. The shares have support from a rising trend channel base and a rising 50 day line. That creates scope for a rebound toward 65p by the end of next month, while price remains above recent resistance at 46p and the 50 day line just below it. The higher low posted in June is one of the more encouraging parts of the setup.
Mercantile Ports: Mercantile Ports has also been quietly building. The shares are finding support above the rising 50 day line and look to be moving sideways rather than rolling over. That is often exactly what you want to see ahead of a breakout. The target is a move back to 3p plus by the end of next month while the shares hold above the 50 day moving average at around 1.22p. One useful supporting signal here is the repeated RSI rebound from the 50 level. There have already been several of those in recent months, and they continue to act as a reliable bullish tell.
Ondine Biomedical: Ondine Biomedical is another chart that looks as if it wants to push higher. The next improvement would be a rising 200 day line, but even without that fully in place yet, the structure is beginning to firm up. The immediate target is 18p to 19p by the end of next month, with the possibility of more if momentum accelerates. The key support remains the rising 50 day moving average near 13p.
Powerhouse Energy: Powerhouse Energy has had a rough time, but the shares are now starting to build above former April support around 0.20p. That gives the chart a possible bear trap recovery profile. As long as that support continues to hold, the next target becomes the 50 day line at around 0.27p over the next four to six weeks, potentially by the end of next month.
SkinBioTherapeutics: SkinBioTherapeutics has been volatile, with a straight up then straight down feel to recent action. Even so, there is a potentially encouraging feature developing around the 6p to 7p area, where the shares have now rebounded for a third time. That repeated support raises the possibility that the bulls may finally get traction. The cautious approach is to wait for a daily close above March resistance near 11p. If that happens, the path opens toward 14p to 15p by the end of next month.
Tamar Minerals: Tamar Minerals is another underfollowed chart that could be worth a closer look. The shares appear to be trading within a rising trend channel, which points to 10p as a target by late summer or early autumn. The key condition is that the stock continues to hold at or above the 50 day moving average near 4.5p. The cleaner trigger would be a daily close above resistance at 5.35p. If that happens, a move to 10p plus within a month would not look unreasonable on the chart.
Tatton Asset Management : TAM had a strong update, and the chart now needs one thing to confirm it: a daily close above the 200 day moving average at 658p. If that level gives way, the next target becomes 730p, based on February resistance, by the end of next month. Ideally, the shares now stay above broken May resistance around 638p, which should begin acting as support.
TinyBuild: TinyBuild is another smaller name with a potentially useful breakout. The shares have been bouncing around rising 50 day and 200 day moving averages and are now trying to push through the top of the recent range. A daily close above 8.5p would target the top of the channel near 13p by next month. The preferred scenario is for the stock to remain above 8p from here.
Upland Resources: Upland Resources probably has the biggest following out of this batch, and the chart suggests it may be trying to break out at just the right time. The key resistance line comes in at around 3.22p. A daily close above that level would target roughly 4.75p by the end of next month. This is another sideways shuffle above a rising 50 day moving average, which is why the setup stands out. The 50 day line is now rising at around 2.85p, and the repeated RSI rebounds from 50 add another bullish layer.
If there is a bigger move brewing in Upland, this may be the kind of structure that produces it.
The recurring technical pattern worth respecting
Across the board, one pattern keeps turning up:
- Price holds above a rising 50 day moving average
- The chart moves into a sideways shuffle rather than breaking down
- The RSI rebounds from 50
- A break through nearby resistance then acts as the release point
That combination can be powerful. It shows up in indices, in crypto, and especially in small cap shares before sharp percentage moves. It does not guarantee success, of course, but when the structure is in place it deserves attention.
Final thoughts
The broad market picture remains mixed but leaning constructive. The FTSE 100, DAX, and Dow still have upside potential while holding their support structures. Bitcoin and Ethereum are improving, though both still need to prove themselves a bit more. Gold is trying to recover. Crude oil looks the weakest of the major assets covered here.
Among the smaller shares, the most interesting opportunities are the ones building quietly above rising 50 day averages. Those are often the names that go unnoticed until the move is already well underway.
For now, the charts are giving a clear message: hold the key support levels, and the upside cases remain alive.
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.
