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, East Star, EARNZ, Fulcrum, Gfinity, IMC, LSEG, Pulsar, Richmond Hill, Rockfire, Strategic Minerals, Supply@ME, Tungsten West, United Oil & Gas, Zoo Digital, Zanaga.
Another quiet end to the week with a lot of neat technical setups across indices, crypto and a swathe of small caps. Momentum indicators have given fresh signals in several markets—RSI rebounds, rising 50 and 200 day moving averages, and a handful of tidy breakout and retest patterns.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Below is a practical, level-based run through what to watch this week—targets, risks and the technical cues that matter.
Major indices
FTSE 100
The FTSE has held the uptrend line drawn from October and produced a clean RSI rebound above 60. That makes the upside case quite compelling.
- Near-term target: 10,500 (this is the minimum target if momentum holds).
- Stretch target: 10,600–10,700 by the end of next month if everything runs smoothly.
- Support: keep an eye on ~10,150. A larger breakdown would likely stall below that level.
DAX
Price is bouncing off (or just below) the 50‑day moving average around 24,400 with both the 50 and 200 day lines turning higher and the RSI back above 50. That’s a favourable set-up for a move towards the top of the current range.
- Target: 25,000 in the coming days, extending to ~25,600 (May resistance) later in the month.
- Bias: tilt long while the 50‑day continues to slope up and RSI remains constructive.
Dow Jones
The Dow continues to trade inside a rising channel established since early December. The recent bounce off the channel floor means the upside remains intact.
- Channel target: around 52,000 (top of the channel).
- Support: recent floor is roughly 49,000; a test of the 50‑day near ~48,600 would be the worst‑case technical pullback unless external shocks appear.
- Signal: RSI has already shown a 50‑level rebound—encouraging for bulls.
Cryptocurrencies
Bitcoin
Bitcoin tested the floor of its falling channel and bounced nicely. The previous target was ~62,000 and we did see a low very near 60,000. The old Apr support near 74,000 is now resistance.
- Key resistance: 74,000 — an end‑of‑day close above this would be a first clear sign of a sustained recovery.
- Short‑term upside: 71,660 was Friday’s intraday high. A daily close above that is an early bird bullish signal.
- Longer range: top of the channel sits near 85,000, but expect potential churn including some mid‑60k pullbacks along the way.
Ethereum
Ethereum found support at the lower boundary of its falling trend channel (around 1,770) and has bounced to challenge the recent high.
- Near term: beat the Thursday high at 2,164 on a daily close and momentum improves.
- Next resistance: ~2,400 would mark a decent recovery.
- Risk: a deeper test back to April’s support near 1,400 remains possible if momentum fades.
Gold
Gold has been volatile. The December peak just under ~4,800 is a line in the sand. Friday’s action left the market slightly below that zone and suggests another test of the 50‑day (approx. 4,531) may be necessary.
- Important levels: stay above the 4,800 area on an end‑of‑day close to keep the earlier rally intact.
- Trade idea: if you’re not in gold, an entry near the 50‑day line could offer an attractive risk/reward for a renewed attempt higher.
- Momentum: RSI remains above 50 which keeps the trend alive for now.
How I’m thinking about trades right now
The common thread across the setups is simple:
- Momentum confirmation: look for RSI rebounds above neutral and rising 50 day moving averages.
- Support retests: use tests of broken resistance or the 50‑day as tactical entry points where appropriate.
- Risk control: be mindful of known event risks—including fund raises and macro shocks—that can blow up technical patterns.
Parting thought
Plenty of attractive technical setups across indices, crypto and small caps. Keep risk management front and centre: respect the levels above, use daily closes to confirm moves, and expect occasional pullbacks even inside healthy trends. I’ll be watching which breakouts hold and which need a retest for confirmation.
More updates tomorrow.
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.
