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, Atome, BSF, Delta Gold, Great Western, Kazera, Mendell, MobilityOne, MedPal, Pulsar, Pantheon, Switch Metals, Wishbone.
Below is a chart-led rundown of what matters, where the levels sit, and what would confirm strength versus suggest a potential “rug pull” style reversal.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
FTSE 100: betting markets on “no escalation”
The FTSE 100 is up near recent resistance despite a volatile overnight backdrop for crude oil. The interpretation is simple: markets appear to be pricing a limited outcome around geopolitical risk, specifically the idea that there is “not being held fire” on Iran later today.
Resistance and near-term upside
- Index pushed toward resistance around 10,450.
- Above that, the next level is around 10,640 (a prior reference point on the way down).
Trend support and “floor” levels
- While the FTSE is above the 50-day moving average around 10,365, the bias stays more constructive.
- If things unwind violently, the first “floor” to watch is the channel area near 10,300.
Dax: chirpier, but RSI is not yet confirming
The Dax has been surprisingly upbeat, rising up to recent resistance around 23,300. The next objective is tied to where the 50-day and 200-day moving averages sit: roughly 24,000 over the next week or two.
Upside targets
- 23,300 is the line in the sand near current resistance.
- Bearing geopolitical risk, a move toward 24,000 is the next technical magnet.
Downside levels
- 22,600 is key downside support referenced around the Friday session support area.
Confirmation to watch
RSI is still not quite above the neutral 50 line. That matters: if the index fails near resistance and RSI does not reclaim momentum, a pullback would not be “out of character”.
Dow: perched near the 200-day line
The Dow is not behaving like a market that has fully decided to trend up yet. Instead, it is “perched” just near the 200-day moving average. That is often a battleground rather than a launchpad.
Key levels
- 200-day moving average around 46,600.
- An end-of-day close above 46,600 opens the door to roughly 47,400.
Trend channel context
The longer-range technical target is tied to the top of a falling trend channel from December, as high as 48,400. But for that to be realistic, you want to see the Dow show the right kind of confirmation: RSI around or above the 50 level, plus an end-of-day close that sits above the 200-day.
Bitcoin (BTC): beacon of light, but still below the falling trend line
Bitcoin had a “beacon of light” day, yet the chart problem remains: it is still not clearing the top of a falling trend channel. It managed a peak during the move, but the clean break is still missing.
The bullish trigger
- Watch for an end-of-day close through 70,000.
- If that happens, the hoped-for move is toward 75,000 during April.
Support zones
- 66,000 is the key support reference: it aligns with the uptrend line from last month.
Risk scenario
The caution is that Bitcoin is not out of the woods for a repeat of the November to January breakdown, which then led to further weakness into February to April. The chart lesson is not “panic”, but “levels matter”.
RSI is just about on the right side of neutral 50. That is constructive, but not an invitation to ignore downside if price slips.
Ethereum (ETH): underperforming versus Bitcoin
Ethereum is technically weaker relative to Bitcoin. The chart shows an uptrend line running around the 1,930 level. Above it, Ethereum is still aiming at the top of a converging structure, with the target area noted around 2,230.
Upside targets
- “Best case” is a move up to around 2,500 near the top of a falling trend channel.
Downside levels
- If Ethereum breaks down below the 1,900 zone, the next reference target is the February 1,750 level.
Gold: sidelined by crude, but support holds
Gold is trading in the background of crude oil’s influence. Interestingly, geopolitical tension has not pushed people into gold in the usual way. Instead, it looks like some market participants have sold gold to fund losses elsewhere.
Technical roadmap
- Support has held above 4,450 in recent days.
- The upside objective is the top of a falling trend channel and the 50-day line around 4,950, framed as a potential end-of-April target.
WTI (Crude): rising channel, possible overextension
WTI is a major driver here. Crude oil is still in a rising trend channel, with the market described as currently near the top of that channel. The immediate references are levels around 112 and 113, though the practical focus is whether price can repeat the spike seen last month.
Support and “overstretched” warning
- As long as price remains above support near 108, the market is still structurally supported.
- However, the setup includes bearish divergence: the market makes higher highs, but RSI is not pushing higher.
Key resistance and rug-pull line
- An end-of-day close through or below 106 (recent resistance) could imply a hit to the top.
- If it goes wrong, the downside target is around $99, tied to the falling channel from January.
Small – Cap’s
Atome: Sits in a sideways range, but the tone is constructive: it is “chirpy” near the top of that range. The 50 and 200-day lines are rising, suggesting the market is not just drifting. Targets and requirements: Look for around 81p by the end of next month while it stays above broken resistance near 60p.
BSF Enterprise: Shows a bounce off the floor of a broadening triangle. After a strong day on Thursday, it moved above the 200-day moving average around 2p. Upside plan: The prior upside goal was 4.5p. Potentially, another exciting RNS (the update mentions a picture related to a bag) could help it push toward that area. Key support: Try to hold above broken resistance around 2.6p.
Delta Gold: Described as the star in the group, largely because it does not appear to have much competition on the chart. Rising trend channel from end-January, top of the channel around 80p. Look for the move as long as it stays above the channel floor near 47p.
Great Western: Has been linked by the chart for momentum reasons, including mention of an X connection to Guardian Metal. The chart action is the main point: it has broken through resistance around 1.75p. Best-case scenario for the ramp is toward 2.7p, with timing framed around end of next month. Stay above the channel floor around 1.66p.
Kazera Global: Bouncing off an uptrend line in the RSI window. The key idea is that the falling trend channel (referenced around 0.75p) acts like a floor. Up toward 1.1p by end of next month. It needs to remain within the parameters of that falling trend channel from last year.
Mendell Helium: The chart notes that Mendell had been lagging versus peers, but the situation appears corrected. A first target has been hit at 5.6p. Next objective is to move toward 9.44p by end of next month (maybe sooner). RSI has stayed above neutral 50 consistently since the beginning of last month.
MobilityOne: Has another day of RNS-style micro progress. Even if the details of what the RNS means are “micro”, the price reaction matters: it broke recent resistance around 11p. Look for 15.4p by end of this month (or sooner).
Medpal AI: MedPal’s catalyst story is that the steady drip of RNS updates finally has an impact. Technically, the stock has gapped off the low and shows bullish divergence. First meaningful target around 4p. Then the next objective is the 200-day moving average around 6.3p by end of next month. Ideally, it holds above the March initial support around 2.75p.
Pulsar Helium: Pulsar is described as responding better now, after a rocky, volatile period. It has already pushed above a previous target at 111p. Aim up to 170p by end of next month – Prefer to stay above the recent target hit at 120p. Two RSI rebounds in the recent past and an upside gap left unfilled today add to the bullish case.
Pantheon Resources: Pantheon is framed as a “if oil’s up, it should go up” type chart. Even with another fund raise mentioned, the chart positioning is considered strong, with multiple RSI rebounds and an RSI rebound above 50 late. Initial target was 14p. This has been upgraded to as high as 19p next month if it can get through resistance around 13p over the next few sessions.
Switch Metals: “not many people look” type mention, but the chart setup is punchy. The assumption is that shares have bounced above a rising 200-day line. Initial target around 14p. Best case up to 22p by end of next month.
Wishbone: Trying to turn itself around. The key requirement is not subtle: it needs to break through 30p, which is described as recent resistance. If 30p breaks, a potential trip back toward the mid-40s could be on the cards by end of the month.
Closing thought: the markets are near decisions, not just directions
Across indices, crypto and AIM, the message is consistent: you are trading around specific “confirmers” like end-of-day closes above moving averages and RSI reclaiming the neutral 50 level. When those are missing, upside can still happen, but the odds of a reversal increase if price slips back below the key support lines.
That’s the real usefulness of the chart rundown today: it does not just point to where markets might go. It spells out what would make the move real, and what would warn that the move has already topped.
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.
