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, Anglesey, BSF, Bezant, Caledonia, Catenai, Europa, Haydale, Hardide, Panther, Rockfire, Sulnox, Upland.
The theme this week is midmove consolidation: many markets are resting inside bull-flag or rising-channel formations while momentum indicators sit around the neutral 50 level on the RSI. That means the next directional move will be guided by clear breaks of short-term ranges or moving averages.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Indices in focus
FTSE 100
The FTSE looks like a midmove consolidation inside a bull flag. Key levels to know:
- Floor to defend: 9,660–9,670 (Friday close area).
- Immediate resistance: 9,750 — a decisive breakout could target 10,000 over coming weeks.
- Downside support: 50‑day moving average just below 9,600, with a channel floor around 9,500 as the worst-case near-term level.
- RSI: holding just above neutral 50 — slightly bullish bias.
DAX
The DAX respectably tested the October resistance line near 24,200 and briefly reached around 24,130. The technical picture is positive:
- Both the 50‑day and 200‑day moving averages are rising.
- RSI is above 50 (56), favoring a breakout above 24,200 that could push toward the year highs and a best-case target around 26,000 by the end of next month.
- Downside buffer: the 200‑day line near 23,500.
Dow Jones
The Dow is edging toward record highs inside an upward channel. Key technicals:
- Top of channel: 48,800.
- Near-term support: recent support around 47,200; 50‑day at 46,900 as a worst-case near-term dip.
- RSI has shown a 50-plus rebound at the turn of the month, which supports the bullish case.
Crypto — Bitcoin and Ethereum
Bitcoin
Cryptocurrency remains tricky. The market failed at an October resistance line after I drew it, leaving a nominal level to beat at 93,000 (USD equivalent used as a chart reference). Current structure:
- Short-term support from the March uptrend sits near 87,000.
- Overall channel floor sits nearer 80,000, which cannot be ruled out if momentum fails.
- RSI registered a clear failure around 50, which increases the risk of further downside unless the October resistance is broken.
Ethereum
Ethereum has held above the psychologically important 30,000 level and cleared a stretched RSI resistance around 40. Technical targets:
- Short-term broken resistance from October sits around 2,920 (chart reference).
- First important moving average zone: 50 and 200 day area around 35,000.
Gold
Gold has already cleared an October resistance line near 4,140. If momentum continues:
- Immediate resistance to clear: 4,250.
- Upside target: 4,600 by the end of next month in a best-case scenario.
- Protective support: 50‑day moving average around 4,067. A dip there could offer a buying opportunity similar to the August bounce.
Small-cap watchlist
The following stocks were highlighted for clear technical setups: bullish breakouts, RSI signals, moving average support and gap-fill or bear-trap rebounds. Targets and key levels are short-term technical projections rather than fundamental valuations.
Anglesey Mining
Debt issues look resolved and the share price is comfortably above the 200‑day line at 0.64p. A recent RSI uptrend pushed momentum higher. Near-term levels:
- Support turned resistance to watch: 0.78p — staying above this keeps the bullish case intact.
- Target: 1.05p by the end of the month if momentum continues.
BSF Enterprise
After a prolonged period of weakness, BSF produced a bear‑trap rebound from below 1.4p. The technical picture:
- Hold above August support at 1.75p to keep the recovery intact.
- Resistance target by next month: 3.5p.
Caledonian
Price action shows a weekly close above a key level and a couple of RSI rebounds above 50. Watch for the rising trend channel base from October as the next upside runway.
- Near-term threshold: above 0.005p (chart basis).
- Target: the channel top around 0.001p (expressed in quoted format) by next month if momentum holds.
Bezant
Included on the basis of a close above a sharply rising 50‑day moving average and an RSI move above 50. While above the channel base around 0.07p, upside can continue.
- Target: 0.13p as a medium-term projection.
Catenai
Volatile name with a wide range between 0.20p and 0.60p. The last swing was a bull‑trap then bear‑trap rebound from below 0.24p. Technical objective:
- Short-term target: the 50‑day moving average 0.37p by month end if the bounce holds.
Europa Oil & Gas
A healthy breakout through resistance has produced momentum. The remaining technical picture:
- Immediate support: recent resistance around 1.9p.
- Target: 2.66p by the end of the month while the trend holds.
Haydale
Potential breakout structure: old support near 0.5p is now a stepping stone. The 50‑day and 200‑day moving averages are both turning higher, reinforcing the bullish view.
- Target: 1p — the top of the broadening triangle — if the breakout continues.
Hardide
Contract wins have pushed the share price toward the second target at 15p. If that level is cleared early in the week, the chart suggests a steeper run toward 20p by the end of next month.
- Near-term support: 10p.
Panther Metals
Long period of underperformance ended in a bear-trap rebound from below a June gap floor (45p). The RSI was extremely oversold (single-digit readings), which often precedes a meaningful bounce.
- Target: the 200‑day line around 60p by month end if the recovery continues.
Rockfire
Recent gap-fill and bear-trap rebound from below the 200‑day line. The channel floor is around 0.13p, with an optimistic target of 0.26p if momentum builds.
Solnox
Solid break above the rising trend channel base at 80p. A gap-close buy signal plus two RSI 50 rebounds strengthen the case.
- Target: upper parallel of the trend channel and a January resistance projection around £1.50 by the end of next month.
Upland
Consolidation above a rising 50‑day line followed by a breakout through 1.5p. Director buying has supported the move and price action remains constructive.
- Near-term support: old resistance around 3.4p.
- Target: 5.2p (upper parallel of the rising trend channel) by month end while above support.
How to use these setups
Focus on three practical elements when trading or following these ideas:
- Define the trigger. A breakout above the local resistance or a clean bounce from the 50‑day line are actionable triggers.
- Set a clear stop. Use the recent swing low, the channel floor or the moving average being defended as a stop point.
- Manage targets. The technical projections above are short-term targets. Scale out into the move if momentum begins to slow or if the RSI becomes overbought.
These observations are technical in nature. Treat the levels as chart-based guideposts and combine them with your own risk management and timeframe.
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.
