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, Ethernity, Fragrant Prosperity, Guardian Metal, Galantas, KEFI, Pyx, Sovereign Metals, Tern.
The common theme across indices, crypto, gold and commodities is level-based trading—watch the moving averages, watch RSI around 50, and treat breakouts as “conditional” until the market proves it can follow through.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Below, I run through the technical picture across major markets—FTSE 100, DAX, Dow, Bitcoin, Ethereum, gold and WTI—then look at a selection of small-cap and green transition names that are showing actionable chart set-ups.
Macro and index roundup
The FTSE 100 has pushed back above the 200-day moving average, trading around 9,626 as support turned into a more positive platform. From there, price has also reclaimed the initial March support area.
- Key support (end-of-day basis): around 10,080
- Near-term “best case” target: the falling trend channel top toward 10,200
- 50-day moving average: ~10,359 (a “stretch” but the direction to watch)
- Risk level if it breaks down: around 9,930 (previous November/December resistance that could flip into support)
The DAX looks messy—two-way gaps and choppy candles—but there is one level that matters more than the noise: keeping the market above a prior support zone from November and earlier in March.
- Most important support to hold: 22,900
- First target: 23,400 (top of the gap)
- Next targets: 24,000 (channel/falling trend structure)
- Best case: 200-day line by end of next month (upside stretch)
The Dow has not had a pretty ride recently. The positive is that it’s attempting to rebuild above its 200-day line, but the chart still reads as “not yet clean” in terms of momentum.
- Support to respect (recent two-day area): 45,700
- Recovery point: reclaiming the 200-day around 46,600
- Best case / resistance: around 47,450
- Headline for traders: if RSI and follow-through fail, the Dow can slip back toward the 200-day test again
Cryptocurrencies
Bitcoin has managed the “first job”: it’s back above the 50-day moving average. That’s an important momentum marker—particularly when paired with an RSI bounce off neutral.
- 50-day line: 68,900
- Target: falling trend channel top near 76,000 by end of next month (or sooner)
- Momentum note: RSI has bounced around the neutral 50 level
Ethereum is bouncing above the 50-day moving average. The interesting part is that the RSI situation looks more constructive than it has for a while.
- Near resistance: around 2,400–2,450
- Trigger area: can it get through 2,330 (top of the falling trend channel from last month)?
- Best case target: ~2,590 by end of next month
- RSI: roughly 54 (above 50, which is the “turning point” many chart watchers look for)
Commodities
Gold staged a bounce very close to where many technicians would expect—around the 200-day line—and then moved above an important prior level from February.
- 200-day bounce point: 4,103
- Reclaimed support: 4,400–4,404
- Upside objectives: toward the falling trend channel top around 5,000 (and possibly up to the 4,971–5,000 area)
- Key “keep it up” level: staying above yesterday’s resistance near 4,490
- Recent 50-day reference: around 4,971
WTI: Crude oil continues to trade like a market driven by immediate narratives. Chart-wise, though, it’s still shaping a fairly clear range.
- Rising trend channel floor: around $82
- Near-term range: roughly $82–$92
- Old support turned resistance: ~$92 (now a ceiling)
- Peak reference: $93 was the latest high
- RSI: 53 (still above neutral 50, implying “buy dips” rather than “sell strength”)
Fundamental reality check: while fundamentals are “all over the place,” oil ranges can change quickly if geopolitical risk moves (the transcript specifically flags Iran as the type of headline that can break a range).
What to watch and how to trade this environment
The environment is improving, but it still rewards discipline. The practical intersection is simple: price action at key levels plus momentum around RSI 50.
Practical rules to keep front of mind:
- Respect the 50-day and 200-day lines—they’re acting as the market’s “permission levels” for trend continuation.
- Watch RSI around 50—above 50 supports momentum; losing it tends to mean the move lacks follow-through.
- Use clear support/resistance for entries and exits—channel floors and prior resistance make cleaner risk management points.
- Oil can change fast—ranges are tradable until the headline risk breaks the chart pattern.
Overall, more markets are looking “spring-like” than they were a few weeks ago. But in charts, as in life, optimism works best when it’s conditional—and backed by levels.
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.
