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, Blencowe, Conroy, Defence, Eco Buildings, Fulcrum, Harena, ImmuPharma, Metals Exploration, Newmark, Pan African, Rockfire, Serabi, Smarter Web, Thruvision.
Below I walk through the major indices, crypto, gold and a selection of small-cap stocks I’m watching — key support and resistance levels, RSI behaviour, and realistic targets over the coming weeks
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Top-level market picture
Overall the tone across major markets is constructive, but there are pockets of caution where momentum indicators need confirming. I focus on channel levels, 50-day and 200-day moving averages, and RSI 50 behaviour — these have been useful guides for fresh moves or corrective tests.
Indices
FTSE 100
The FTSE has rebounded above the RSI 50 area after an early-month dip. Price is bouncing off the lower boundary of a rising channel (current channel floor 9,140) and showing decent support above 9,200.
- Near-term upside target: channel top toward 9,450 (possible by the end of next month, maybe sooner).
- Key support: 50-day moving average around 9,086 — a rugpull destination if momentum fails (we haven’t closed below that since May).
- RSI: upper 50s — a healthy reading for a fresh upside leg.
DAX
The German index has a supportive trend line back to early 2024 around 23,500, but its RSI is below neutral and the 50-day line isn’t looking strong.
- Immediate support: 23,500; downside test to 23,000 (June support / prior resistance) is possible before any sustained push higher.
- Upside levels: 50-day 24,000; best-case toward 25,600 (top of the rising channel) by the end of next month.
- Caution: three RSI failures below 50 — wait for another close back above the 50-day line if you’re risk-averse.
Dow
Dow dynamics have been dominated by the 45,000 area acting as support. We’ve tested it as a base and RSI has shown positive swings.
- Support: 45,000 held; 50-day 44,600 on a deeper pullback.
- Upside target: channel top 47,500 by the end of next month.
- Positive signal: three RSI rebounds above 50 — a leading sign for further upside when combined with price action.
Cryptocurrencies
Bitcoin
Bitcoin bounced off the lower floor of its rising channel (floor around 109k in my charting). Momentum is improving.
- Immediate target: 50-day 114k; if that’s reclaimed look for the channel top toward 130k (possible by end of next month or sooner).
- Downside risk: 200-day line around ~101k (post-June support).
- RSI: has moved above neutral 50 — a positive confirmation.
Ethereum
Ethereum looks to be benefiting from some rotation out of Bitcoin and is sitting on a rising channel from July.
- Support: channel floor 4,200; 50-day 4,164 — while above this, the trend is intact.
- Upside: channel top 5,500 by the end of next month.
- Momentum trade: an end-of-day close above 4,500 would be a clean trigger; RSI has been bouncing off 50 since last month, which supports continuation.
Gold
Gold is the market-leading story this week — charging up toward the top of a steep rising channel.
- Upside: channel top 3,800 — I had this pencilled for end of next month, but if momentum continues we could reach it by the end of this month.
- Support: recent intra-day low 3,511; hope is for nothing below 3,500 on a corrective dip.
- Overall: very bullish setup while price stays above recent support.
Selected small-cap stock watchlist
Below are individual comments and targets on the names I covered. These are technical outlooks: watch for end-of-day closes and keep an eye on fundraises / RNSs which can change setups quickly.
Blencowe Resources
- Recent action: finally cleared congestion; long road to get to 4.75p has happened.
- Near targets: next at 6.1p (could be hit imminently), end-of-next-month projection 8p if it stays above recent autumn resistance (5.3p).
Conroy Gold
- We’ve hit the first target near 10p.
- Next target: as high as 22p by the end of next month, provided 10p holds as support.
- Momentum: strong for gold stocks right now — simple call but punchy.
ALRT (Defence holding)
- Progress: third target reached at 2p (initial targets were lower).
- Next target: 3p (resistance projection from April) by the end of October, while staying above 1.6p and ideally closing back above 2p to re-trigger.
Eco Buildings (the RNS stock)
- Just delivered an encouraging RNS and the market seems surprised in a good way.
- Broken July resistance 4.3p now holding; targets: 6.3p in the coming days and possibly 8p by the end of next month, provided no painful fundraising headlines.
Fulcrum Metals
- Positive structural signs: unfilled gaps to the upside, gap closes, bear-trap island reversal and consistent “open low, close high” moves lately.
- Near-term: target 6p by the end of this month (warrants were around 5p so that’s a key level).
- Best case: 10p by the end of next month if it clears the 200-day line and the 6p level in the next week or so.
Harena Resources
- In a rising trend channel since April with RSI generally bouncing at/above 50.
- Support/resistance: rising 50-day line and nearby resistance 1.45–1.5p.
- Target: 2p+ by the end of this month as rare earths gain attention.
ImmuPharma
- Hits: MU (ImmuPharma style plays) running to its second target at 8p, clearing broken resistance around 6.6p.
- Near-term target: up to 11.5p by the end of next month while holding above 6.6p.
Metals Exploration
- Shares have already outperformed earlier targets — next target 18p by the end of this month as the sector heats up.
Newmark Securities
- Long-term rising channel from late 2021 / 2022 — target £1.30 by the end of next month while staying above recent broken resistance in the low 80p area.
Pan African
- Clear rising channel since November last year; top of the channel around £1.16 — a reasonable target by the end of November if support 68p holds.
Rockfire
- Explosive performance after past targets; next target 0.40p (upper parallel of a broadening triangle)
- Explorers / developers are in favour so this could have legs.
Serabi Gold
- Top of the channel around 253p — target by the end of this month while staying above early-September resistance £2.14p.
Smarter Web
- Recently broke resistance around 114p and aiming to test old July support (172p) by the end of this month, funds and other corporate actions permitting.
- Key near support: 130p, which has held the last two sessions.
Thruvision
- Complex but constructive setup: multiple RSI 50 rebounds since the July gap to the upside, with a rising 50-day line.
- Immediate upside: top of recent range 2.6p; 200-day line 2.8p looks within reach if momentum continues.
- Key level to hold: 1.48p — staying above that keeps the bullish case intact.
How I’m trading this setup
My approach is pragmatic: use end-of-day closes and the 50-day/200-day levels as structural checks. RSI rebounds above 50 have repeatedly been a useful leading indicator for upside continuation — three such rebounds on an index or a stock is a strong signal. Conversely, if an index or share fails to get back above the 50-day line I’ll be cautious and expect tests toward prior support.
For momentum plays (Ethereum, Bitcoin, gold and some small-caps) I look for clean end-of-day closes above obvious resistance levels (e.g. ETH above 4,500; ALRT above 2p). For longer-term targets I mark channel tops and watch how the moving averages behave.
Final thoughts
Markets are in a bullish mood overall but not uniformly so — DAX needs confirmation, while the FTSE, Dow, Bitcoin, Ethereum and gold are showing healthier patterns. Many small-cap miners, explorers and tech names are breaking free of long congestion zones and could run hard if sector momentum continues.
I’ll follow up with more updates tomorrow — stay aware of RNS headlines and fundraising notices that can change technical pictures quickly. If you’re trading these ideas, keep stops sensible and watch for clean end-of-day confirmations.
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.
