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, Amazing AI, EnergyPathways, Defence Holdings, Gem Resources, GCM, GreenX, Hydrogen Utopia, Metir, Mila, Oracle Power, Panthera, TomCo, World Chess.
In my latest Weekend Bulletin Board Heroes update, I run through the charts and key technical levels across global indices, cryptos, gold and a selection of small-cap stocks. This weekend edition focuses on momentum, support/resistance, and realistic targets for the coming weeks—useful if you trade off RSI, moving averages and trend channels.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market snapshot
Overall, the FTSE 100 closed the month on a high, U.S. indices are consolidating near recent peaks, the DAX has been lethargic, crypto has been disappointing this month, and gold remains the standout performer. Below I break everything down with the key levels and scenarios to watch.
Indices
FTSE 100
The FTSE almost had a perfect day to finish the week: it opened at the low and closed at the high, finishing up roughly 0.75%. Price has broken recent resistance around 9,270 and is now tracking toward the top of the channel around 9,530 by the end of next month. The double RSI-50 rebound and staying above the rising 50-day line (just under 9,180) are constructive signs.
Key levels and scenarios:
- Immediate support: rising 50-day line (9,180).
- Recent lows since the signal: 9,177.
- Upside target: channel top 9,530 (end of next month).
- Worst-case rugpull: break below the 50-day line and deeper support around 9,110 (September support).
DAX
The DAX has been a dead month so far, slowly inching closer to re-activation. RSI is just below the neutral 50—an end-of-day close through the 50-day line (around 23,900) would be the first sign of life and could open the path toward 25,700 by the end of October, which remains the core upside thesis.
Key downside risk: worst-case retracement to the 200-day line (22,800).
Dow Jones
The Dow is consolidating comfortably near the highs and is showing continuation signals—bounces off an important support line near RSI-55 and held supports. Expect the 50-day (45,100) to be the main short-term downside line; sustained action below 45.5k would be negative.
Upside target: top of the channel near 47,800 by end of October.
Cryptocurrencies
Bitcoin
Bitcoin has been underwhelming this month. Price is bouncing at the floor of a rising trend channel that begins in late February, currently testing the 109,00 area. We’ve already factored in testing September support near 107,00.
Key levels:
- Immediate support: channel floor $109,00, September support 107,00.
- Worst-case shakeout: fall back to 104,00 and the 200-day moving average (this would be an unpleasant but possible final shakeout).
- 50-day line is falling and there was a recent failure below old support at 111,00—signs of near-term rollover.
Ethereum
Ethereum has also disappointed. We hoped support would materialize on the right side of $4,000 (and then around July’s old resistance near 3,940) but that didn’t hold. There’s been a bounce to the floor of a rising trend channel (from August) and today’s candle showed a textbook market cork-and-rebound.
Key levels & scenarios:
- Immediate support: 3,820 (recent bounce level).
- Initial upside target: 4,220; best case if momentum holds above 3,820 is 5,300–5,400 by end of October.
- Technical note: RSI showed a 30-rebound off oversold—which supports a recovery if buyers step in.
Commodities
Gold
Gold has been the star: near-parabolic ascent and strong upside momentum. The top of the current channel sits around $3,880—this is a realistic target in the next few weeks, especially while price holds above recent support/resistance near 3,700.
Selected stocks and small caps
Below are the key chart readings, news catalysts and targets for a range of small-cap stocks I cover. The common themes are RSI rebounds through 50, rising 50/200-day lines, and potential golden-cross setups that often precede the strongest runs.
Amazing AI
Positive sentiment after presentations during the week. The shares are bouncing above the 50-day and the uptrend around 1.1p. RSI sits around 57—healthy for continuation. Target: flip back toward 2.7–2.8p by the end of next month.
EnergyPathways
Late-week strength ahead of Friday announcements. Strong candles (open low, close high) suggested some participants were betting on upside. The shares broke into intraday resistance at 2.6p (post-crash high) and closed above the 200-day (5.68p on a different price scale—note the company’s charting units). Near-term target: 7p, with resistance around 8.3p to watch. A failure to challenge 7–8p would imply the market wants more information.
Defence Holdings
One of this month’s stars. I’ve redrawn a rising trend channel from late last month—top of channel points toward 4.5p by the end of next month, while support near 2.5p remains key.
Gem Resources
Rehabilitated after a decent announcement. Minimum upside looks like 8p with a further run toward last year’s November resistance (N2 level in the charting) if support holds at 5p.
GCM Resources
Multiple support points around 6p and RSI repeatedly retesting the 50 level suggest a retest of 10p by the end of next month (this was early-2024 resistance). Important to keep above the 50-day (5.68p).
Green X Metals
Broken main resistance from March (38p) during the week. Rising 50 and 200-day lines point toward a golden cross—historically one of the strongest parts of a cycle. Expect a push above 40p and a minimum run toward the top of the rising trend channel (50p) by the end of next month. Downside risk: sustained action below the 50-day (37.5p) would be disappointing.
Hydrogen Utopia
The market seems to be recognising the potential scale of its activities in the Mina region—one meaningful deal could drive a big move. Break above July resistance (1.75p) would open a run toward 2.3p (top of an older falling trend). Best case by end of next month: 3.5p. Keep an eye on support 1.5p (August resistance).
Metir
Good RNS during the week—final commissioning of a Qatari project. The chart shows a rising trend channel; top of the channel targets 1.6p by end of next month after the recent gap higher and a rising 50-day line.
Mila Resources
Promoted its exploration manager to CEO—positive governance move. The shares broke recent resistance around ~1.04p; short-term target 1.44p, best case 1.7p by end of next month (post-2023 resistance level remains the red line to watch).
Oracle Power
Company raised £0.5m last month. Price has hit the first target (0.03p) on an end-of-day close and the chart shows three RSI-50 rebounds. Next target: 0.045p by end of October.
Panthera Resources
Classic mid-move consolidation (bull flag). Both 50 and 200-day lines are rising and a golden cross looks possible next month. Above July’s resistance (14.75p) the minimum target is 21p by the end of next month, with a longer-term aim toward 30p (December resistance projection).
TomCo Energy
Serial underperformer historically, but current price action is above a rising 50-day line with extended RSI-50 rebounds. Short-term target 0.075p while price holds above the 50-day; watch support 0.035p.
World Chess
More interesting than it sounds for investors: a rising trend channel points toward 2.9p with the 200-day just above (3.0p). Support and the floor of the channel sit at the 50-day (1.4p). Recent partnerships (e.g., with national federations) add to the story.
What I’m watching next week
- Can the FTSE and U.S. indices keep closing on highs and push toward channel tops into October?
- Will Bitcoin/ETH finish the month by holding rising-channel support, or will a deeper 200-day test occur?
- Gold: is the parabolic run sustainable toward 3,880 in the near term?
- For small caps, look for golden-cross run-ups (Green X, Pantherra, Pantherra) and news catalysts (EnergyPathways, Metia, Hydrogen) to confirm breakouts.
Conclusion
September ended with a mix: indices generally healthy, crypto under pressure, gold on a serious run, and several small caps showing technically constructive setups. Keep money management front of mind—50-day and 200-day lines remain the most useful “line in the sand” levels for many names. I’ll be monitoring reactions to any Monday catalysts and will update during the week with how these technicals evolve.
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.
