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, Ajax, Ascent, Greatland, GSTechnologies, Intuitive, Neo, Thor, United Oil & Gas, and Zenith.
Here is a focused charting rundown for Wednesday, 8 April, with the levels and “what to watch next” points laid out across major indices, crypto, commodities, and a handful of smaller stocks.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
FTSE 100: break-through conditions and RSI back above 50
The FTSE 100 already looked set up for a positive reaction overnight, and it played out. The idea was that markets were effectively anticipating a ceasefire announcement. Technically, the index moved above the channel floor near 10,220. From there, the upside “target zone” was 10,450, and the charting work also suggested further extension to around 10,650. The day’s high got up to 10,655, so the trade idea was pretty well aligned with price action. If the FTSE can achieve an end-of-day close above 10,450, the next discussion becomes whether the market can challenge the record highs seen around 10,900 later in the month.
DAX: falling trend channel broken, so now it is about gaps and moving averages
The DAX has been working in a falling trend channel since earlier on. The key development here is that the channel has now been broken, which shifts the bias towards “fill the downside gaps” and test overhead moving-average resistance. Resistance is around the 50-day and 200-day lines, near 24,100. The condition is an end-of-day close through that area. If that happens, the market could move to fill a second gap down that formed at the start of last month, with a target area around 24,500 by the end of the month (or earlier).
Dow: above resistance on the way down, with the 200-day line in focus
For the Dow, the spread bets were trading around 47,600. The technical plan was to get an end-of-day close through the 200-day line, but it did not quite happen yesterday. That is slightly disappointing, even though price action still printed a fairly decent candle. Another subtle point: RSI did not reach above neutral 50. So the immediate setup is more “gap higher while support holds” rather than “fully confirmed momentum breakout” yet. Key levels to monitor: 47,400: resistance on pullbacks (it is the line to hold as the market opens and settles). 48,300 to 48,400: upside target tied to the top of the falling trend channel by end of month. 46,700: 200-day moving average, expected to act as support on end-of-day close basis
Bitcoin: stuck in a falling channel, but the bulls have specific thresholds
Bitcoin’s chart is still a struggle. The issue is not the existence of a falling trend channel (that is clear), but the exact location of the channel top. Depending on where that top is drawn, the resistance levels can shift slightly. From the technical levels mentioned, the market appears to have reacted from resistance around 72,000. After bouncing away from that area, the next “if we can clear X, we look for Y” ladder goes like this: Above 72,000 brings the March peak into view near 75,000. Next resistance on the way down is referenced around 79,000
Ethereum: escaping bearish pressure, with 2,060 as a key line
Ethereum is trying to shake off bearish malaise. The chart levels are clear: resistance sits at 2,275. Above that, the market can aim for the top of the falling trend channel just shy of 2,500 by the end of the month. The main bullish “must-keep” is staying above the rising 50-day moving average near 2,060. If Ethereum breaks the uptrend line from February around 1,970, the chart suggests a new leg down. The downside targets then become around 1,750 and beyond.
Gold: peace headlines help, but the chart still needs RSI to stay firm
Gold has started to look more attractive to “gold bugs,” and part of the narrative is simple: the more peaceful the situation appears, the better gold tends to behave. Technically, the market gapped up from around 4,720. After that gap, the upside focus is the 50-day moving average near 4,950, as well as the top of the falling trend channel.
Crude oil (WTI): pressure below $98, but $95 is the line in the sand
Crude oil has slid from the top of its channel, which was around $117, down to the bottom. Right now it is trading near $95. If crude oil closes below $95 on an end-of-day basis, the chart warns of another $10 downside, which would be painful for anyone expecting the narrative of a “world war” escalation. While crude remains above $95, the next upside objective is to fill the gap up towards $110. Volatility might not be as extreme as recent days, but the broader pressure remains: a move back above $98 is needed to head back towards the $85 area.
What this chart rundown is really saying
Across the board, the market is trading with the same technical logic:
- Broken levels matter most: resistance turned into support, or channel breaks that change the bias.
- End-of-day closes are the deciding factor for several indices, especially where moving averages sit.
- RSI above 50 is treated as a momentum confirmation, not a standalone signal.
- Falling channels are still the background risk in crypto and oil, even when bounces look strong.
- 50-day and 200-day moving averages are repeatedly used as the “floor” levels for trend integrity.
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.
