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, Artemis, Aptamer, Blencowe, Cloudbreak, Critical Mineral, Empire Metals, Fusion, Fiinu, Great Western, Hemogenyx, Jersey, Kefi, Oriole, Pensana, and Power Metal.
In this update, I run through the big-picture indices, crypto and gold, then dive into a selection of small-cap charts I’ve been watching closely. The tone here is chart-driven: key support and resistance levels, moving averages, RSI behaviour and realistic targets by the end of next month.
Market overview: FTSE 100, DAX and Dow
FTSE 100 remains around record highs. We’ve already exceeded the 9,330 target and have hit the May red-resistance projection that’s now pointing to roughly 9,370 . That’s our near-term target. The channel floor from June sits near 9,170 , so any pullback should ideally be limited to about 100 points. If we break lower, the worst-case would likely see a test of the 50-day moving average — which is now comfortably above the 9,000 mark.
The “big prize” is a clean break above the main red line: if that happens, there’s a resistance projection up to around 9,520 , which could be a best-case target by the end of next month. All the more notable given the economic and fundamental headwinds the market faces.
DAX is in a frustrating consolidation between record highs (24,600 ) and the rising 50-day (24,000 ). With the RSI now below neutral 50, there’s a risk of a test down toward 23,000 in early September.
Dow did what I hoped: a spike through 45,000 and we held most of those gains. That leaves the Dow potentially set to reach the top of the rising May 2024 trend channel — roughly 47,500 by the end of next month — provided we don’t drop back below the 50-day line near 44,200 . Two RSI rebounds above 50 suggest enough momentum to push higher toward that channel top.
Cryptos: Bitcoin and Ethereum
Bitcoin spiked toward ~ 124–125k and is currently searching for support. My preferred scenario is a pullback to the floor of the rising March trend channel around 107–108k , which would also tie into July support near 105k . The RSI has been weak — effectively three recent RSI-50 failures — so downside risks remain. A severe “rugpull” could take BTC down toward the 100k area, ironically undermining the treasury-buying narrative.
If Bitcoin can hold above the channel floor, initial support to watch is the 50-day around 116k , and the best-case target to the top of the channel is around 133k by the end of next month — but that feels a long way off today.
Ethereum is benefitting from rotation out of BTC. I drew an uptrend line recently: holding above that line keeps the path open to the upper parallel of the rising trend channel from March, which is pointing to about 5,500 by the end of next month. Key short-term support sits near 4,300–4,350 . Ethereum’s RSI action (multiple 50-plus rebounds) shows decent momentum behind it.
Gold
Gold’s technicals are gradually improving — more on dollar weakness than anything else. The April resistance at 3,410 is the immediate line to break; a successful breakout could see gold toward roughly 3,800 by the end of next month. Near-term support to hold is the April channel base around 3,320 . The RSI has produced a 50-plus rebound, which supports the bullish case.
Small-cap watchlist: chart-by-chart notes
Below are the charts I covered, with the key levels and targets I’m watching into the end of next month.
- Artemis — Broke the 200-day resistance near 0.37p . If we stay above 0.33p on any pullback, an initial upside target is around 0.58p (possible by end of next month). Strong RSI action and a rising 50-day make this one of the better setups.
- Aptamer — Has knocked through the earlier targets (c.0.52p , 0.67p , then 0.9p ) with a gap higher. Next resistance area is around 1.35–1.4p from early 2024. A close back below 0.8p would delay the upside case.
- Blencowe — Momentum looks strong after recent gaps up. I’m watching upside toward 6.2p by the end of next month while we remain above the latest gap area around the 4p zone.
- Cloudbreak — Yesterday’s thesis was to hold above 0.70p . So far so good; the next real resistance is the old closing resistance near 0.75p. A straight move higher is possible if the 0.70p hold remains intact.
- Critical Mineral Resources — Smashed through a fourth target at 3.80p . Look for a possible push to 5p on an end-of-day close above recent broken resistance 3.6p.
- Empire Metals — We’ve broken out of the rising trend channel top at 43p . Next target is around 60p by the end of next month given the current breakout structure and sustained trading above the 50-day.
- Fusion Antibodies — Broke the resistance around 6.50p , cleared an ambitious target near 14p and now the upper parallel of its rising channel sits near 21p . Momentum is strong here.
- Fiinu — Came back from suspension with a textbook V-shaped bull flag. Minimum upside is the upper parallel of the rising channel (15p) and the channel currently points as high as 24p .
- Great Western Mining — Consolidating above a rising 50-day near the lows and showing strong price action (e.g., openings at the low and closes at the high). If we remain above the 50-day (0.97p as referenced on the chart), look for the red resistance projection near 1.3p , with a best-case near 1.75p .
- Hemogenyx — Hit the red March resistance line target exactly (227p on the chart). Next stops: the 200-day around 260p , and the top of the gap nearer £3 if fundraising noise settles and we get positive patent/FDA-related news.
- Jersey Oil and Gas — Bounce above a rising 200-day is bullish. Bear-trap rebound from below July support, now above the 50-day (120p on the chart). The channel top is near 200p and could be hit as soon as the end of next month if the rally continues.
- Kefi — Negative vibes have quieted. A V-shaped bull flag resting above double unfilled gap plus multiple RSI 50-plus rebounds. Minimum upside target near 0.79p by the end of next month, with a useful confirmation being an end-of-day close above 0.65p .
- Oriole — Trading around the old target 0.48p — a close above that opens a path to 0.67p . Important to avoid a daily close back below the early-2024 resistance (0.40p on the chart).
- Pensana — Rather than tiring, the shares look ready for another leg higher. Three RSI 50-plus dips in recent months are classic bull-market behaviour. While above 80p , targets toward 117p–120p by the end of next month are plausible.
- Power Metal — Mini-resources momentum is helping here. Holding above the broken February resistance near 16p opens a path back to the prior peak around 24p as early as the end of next month. Recent RSI rebounds and an unfilled upside gap support the bull case.
Quick quote on risk
“”If there is a massive rugpull, then that would be down towards the $100,000 area” — a reminder that momentum can reverse quickly, especially in crypto. Always respect stop levels and clear support zones.”
Conclusion
To summarise: the major indices are broadly constructive, with the FTSE flirting with fresh highs and the Dow set to test the top of a rising channel if momentum continues. Bitcoin and Ethereum are in different phases — BTC searching for support, ETH showing rotation-driven strength. Gold looks set to resume a higher trend if we can clear 3,410. On the small caps, a long list of stocks are showing typical breakout signals: gaps, V-shaped bull flags, RSI 50 rebounds and rising moving averages. Those chart features suggest further upside is possible in many of the names I’ve covered — but always be mindful of the support levels and the possibility of pullbacks.
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.
