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, Atlantic Lithium, Buccaneer, Boku, Eco (Atlantic), 80 Mile, First Class, Hydrogen Utopia, Kendrick, Panther, Zenith.
St. Patrick’s Day mood aside, markets are painting a mixed picture: the blue chips are chopping around key moving averages while crypto and selected small caps are doing the heavy lifting. Below I cover the important levels, what to watch next and clear, practical targets for traders and investors.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Quick market overview
Overall theme: indices are sitting on critical lines (50 and 200 day moving averages) and need clean end-of-day confirmations to regain momentum. Bitcoin and Ethereum are showing healthier technical action. Gold is fragile near its 50-day line and crude remains the most interesting macro play with a median band rather than a decisive breakout or collapse.
Major indices
FTSE 100
Price action has been oscillating around the monthly pivot near 102.8, and the 50-day moving average sits at about 10,367 on a close basis. The market needs a clean end-of-day close above that 50-day line to convince bulls to push higher.
- Immediate resistance: 10,640.
- Support / channel floor: 10,120.
- Momentum reading: RSI around 48 — just below neutral 50, so confirmation is what matters.
DAX
Recent candles have been relatively constructive, staying above the top of a rising short-term channel. The 200-day line around 24,100 is the big ceiling; RSI remains below neutral which implies more risk of a test of the March support near 23,000 than a clean breakout.
Important note: both the 50 and 200 day moving averages are currently falling, which reads like a dead cross situation — caution warranted.
Dow Jones
The Dow managed a modest bounce slightly above the 200-day line near 46,400. The uptrend line around 46,700 has been touched and recent resistance sits near 48,200. RSI bouncing from the low-30s is constructive — it’s the best sign the index has seen since last April’s weakness.
Cryptocurrencies
Bitcoin
Bitcoin cleared the 50-day moving average and pushed through the top of a falling trend channel. Short-term target: the top of that channel around $79,200 by the end of the month while it remains above the 50-day line. More broadly, staying above the 50-day (around $70,871) keeps the bullish case intact.
Ethereum
Ethereum is showing similar behaviour: breaking above its 50-day line and out of a short-term falling channel. Watch for a move toward the channel top near $2,670 while above the 50-day line (roughly $2,170).
Commodities
Gold
Gold is struggling around the 50-day moving average. The 50-day sits near 4,968 and intraday probes toward the low 4,940–4,950 area are common. RSI has dipped to the high-40s, which means a touch of the 50-day line in the coming days is likely unless momentum re-accelerates higher.
WTI Crude
Crude has been the most exciting market. There was a brief push through $100 but the more realistic median band this cycle looks like $92–$98. A sustained daily close above $100 would open a path toward the $105–$110 area (with a longer, more ambitious target toward $119 if momentum carries).
Bottom line: not expecting a durable hold above $100 yet, and equally unlikely to fall decisively under $90 in the short term.
Small caps
Several small caps have shown neat technical moves, from bear-trap rebounds to gap-through resistance. Below are the names and clear levels to watch.
Atlantic Lithium:
- Recent action: key reversal to the upside, bouncing off a previous target near 13.6p.
- Near-term target: retest of last month’s resistance at 20p.
- Watch level: stay above the 50-day line at 14.25p.
Botswana Minerals:
Technical giveaway for the turn was an uptrend line visible in the RSI window. Multiple tests, a bear-trap rebound from February support near 0.18p, and recent price action have hit the initial target near 27p.
- Triangle top target: potentially up to 0.5p over the coming month.
- Support to respect: rising 200-day line near 0.25p.
Boku:
- Potential takeover chatter aside, the chart shows bullish divergence and a bear-trap rebound from early March support around 172p. A clean end-of-day close through 185p would be a convincing sign of strength.
Eco (Atlantic):
- Now trading well above earlier levels. With the gap through resistance and a couple of strong RNS events, the next practical target looks toward 82p by the end of next month as long as it holds above the recent breakout level of 62p.
80 Mile:
- Filling the November gap and holding above the 50-day line. Initial target is the top of that gap and the 200-day moving average near 1.45p, with a best-case scenario up to 1.6p.
First Class:
- Bear trap gap reversal helped by positive RNS updates; target around 2p by the end of next month while holding above recent broken resistance of 1.35p.
Hydrogen Utopia:
- Good rebound from below the 200-day line. Needs an end-of-day close through the 50-day near 2.71p to reassert a move toward 4p+ resistance seen earlier.
Kendrick:
- Continued parade of targets being met — now trading above the old target at 2.88p. Next look is toward 4–4.4p by the end of next month, provided it stays above the recent support.
Panther:
- Gapped through an old target and topped a falling trend channel. Short-term target around 125p by the end of next month, supported by rising 50-day moving average and RSI rebounds near the 50 level.
Zenith Energy:
- Strong run from lower levels with multiple targets already cleared. Fresh target set at 11p by the end of next month, with a best-case extension to around 14.6p (the top of the July gap) if arbitrage or corporate news fuels further momentum.
Practical trading checklist
- For indices, require clean end-of-day closes above key moving averages (50 or 200 day) before committing new long exposure.
- For crypto, keep positions while price remains above the 50-day line — that has been the differentiator this month.
- On commodities, treat crude as a momentum trade within the $92–$98 band unless there is a sustained close above $100.
- For small caps, prefer trades with clear stop points (recent broken resistance becoming support or moving average lines) and use targets listed above to size exits.
Final thought
The market is in a selective phase: big indices need clean confirmations and have structural risks with moving averages turning lower, while crypto and a handful of small caps are showing the strongest technical evidence for further upside. Keep risk tight, respect the moving averages, and trade what the charts are giving you rather than what you hope for.
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.
