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, Ascent, Aoti, Catenai, Delta Gold, Powerhouse, Silver Bullet, Synergia, Victoria, Xtract.
Here’s an Easter charting rundown built around the levels, setups and “what would change the story?” points that matter most right now.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
FTSE 100: Bullish bias as long as price holds the channel floor
The FTSE 100 ended the shortened holiday week with strength, pushing up into a familiar resistance area around 10,450. The immediate question is whether that level can be broken.
If 10,450 breaks, the next downside destination (based on the levels being referenced) is around 6.50 on the charting framework mentioned, which would be “very nice”. Obviously, the wording here mixes decimals and formatting, but the idea is clear: a break higher from resistance sets up the next measured move.
But, geopolitical headlines and a deadline approaching for Monday can easily inject volatility and invalidate clean technical patterns. So the more reliable “line in the sand” is the ability to stay above the floor of the channel around 10,260 (as stated).
- Above channel floor (10,260): chance of a move up towards about 10,650.
- Below 10,260: prior broken resistance around 10,120 becomes the “favourite destination”.
From a wider charting perspective, the setup is described as very bullish. RSI sits in the upper 50s, which is framed as a good zone for further gains, and the daily chart recently shows strong candles. That combination often matters more than noise around single sessions.
DAX: Mixed, with a looming decision around the 50-day and 200-day lines
The DAX is presented as a mixed bag. The bigger picture is still within a falling trend channel since early in the year. Even so, there has been meaningful progress: a rally filled a gap, and price then rebounded from the gap floor around 22,800.
Where things get tricky is that the market has reached upper boundaries of the current range. The discussion points to the top area of the channel around 23,800, potentially up towards the 50-day and 200-day moving averages around 24,000 as a best-case target for the next week or two.
That’s where the “bulls vs bears” battle comes in. There’s also a specific risk: whether the 50 and 200 day lines cross in a way that produces a dead cross, which would be a negative signal.
- It previously failed near the 23,400 gap area.
- RSI has been unable to hold above 50, which keeps the tone cautious.
Practically, the takeaway for the DAX is:
- Below 23,400: expect a drift lower and the possibility of a test of 21,000 and 22,100 (recent support), even if the market then tries to bounce again.
Dow : Bull trap risk until the 200-day line is reclaimed properly
The Dow is described with one crucial condition. It turned and closed the week near the 200-day line, but that was framed as a proviso for bullishness: if it cannot break and hold above the 200-day, the market is vulnerable to “a new leg down”.
Key levels provided:
- Bearish trigger zone: around 46,700 (200-day line mentioned).
- Next upside resistance: 47,400.
- Potential downside: if early and end-of-day action ends back below 46,000, the lows around 45,000 come back into play.
RSI is still below neutral 50, which is why the rally is characterised as a bear market rally or bear trap rally. The Dow is therefore being treated as “not yet convinced” until that 200-day area is clearly taken out.
Bitcoin: Sideways risk, RSI failures, and the 65,000 line in focus
Bitcoin has been sidelined, but it is attempting to improve. The chart discussion highlights a weak uptrend line around 65,000.
The upside path requires breaking into the next resistance zone: the top of the channel at the 50-day line around 69,000.
However, the caution is firm. The market could simply be stuck in sideways movement and then roll over for a fresh leg down inside a broader falling trend channel.
A bearish guide provided is that the top floor of that channel is currently heading towards about 40,000, which would be “not great”.
What would confirm strength?
- End-of-day close below 65,000: not what bulls want.
- Holding 65,000: keeps the chance of a move up towards 75,000 as the best case.
Finally, there’s a technical “pattern driver” in the way RSI has behaved: the comments mention two RSI failures below neutral 50 in late January, and the implication is that this has still tilted conditions lower.
Ethereum: Converging triangle, 2,275 as upside reference, and 1,900 as the downside test
Ethereum is framed as a weak sideways move with a converging triangle structure.
- Upside reference: 2,275 (top of the triangle).
- Downside support: around 1,900 (post-February support).
So the “setup” is essentially a tug-of-war: if price can resolve upward from the triangle, 2,275 becomes the bull target. If not, the market tests the deeper support zone around 1,900.
Gold: Stocks catching a bid, but RSI hints a dip may still come
Gold itself is described as less “juicy” than the gold stocks, though the tape has been supportive across the complex. Gold stocks have rallied on the basis that the market may have seen “the worst” already.
Key levels for the gold chart are:
- Upside: the top of the channel around 5,000.
- Downside: recent support around 4,400.
RSI is also flagged with an RSI 50 failure. That typically implies a dip is possible before any sustained push higher. Even so, the optimistic view is that price could still recover and potentially be around 5,000 by the end of next month, if the support test holds.
Crude oil: Pushing the channel top
Crude oil is called “the market of the moment”, and the technical narrative is very clear: price has hit the top of a rising channel and is testing a breakout-style zone.
Up near 112 to 113, the next reference is a retest of previous peaks around 100 and 150, potentially “well before the end of this month”.
Support levels are:
- 106 (recent support)
- 90s (floor of the channel) as a deeper downside scenario
Importantly, the latest candle is described as not weak. In channel trading, strong rejection or strong continuation candles near resistance can be the difference between “another stall” and “a real push through”.
Small – Caps
From here, the rundown moves into a list of London Stock Exchange small caps, with multiple charts sharing a common character: rebounds that trap earlier sellers, RSI divergences, and breakouts from falling wedges or flags.
Ascent Resources: Ascent is described as having a rising trend channel, with the top of that channel around 0.60 (again, formatting is unclear in the transcript), and a key condition: being above the 200-day line around 0.41. There is also “sideways vertical” behaviour, which is treated as potentially constructive. The comments also suggest that both the 50 and 200 day lines may be rising and heading towards a golden cross, which would be supportive.
Aoti Inc: A bear trap gap reversal, described as a two-day reversal while price is near 33 pence.The upside target mentioned is the top of the channel, with a high around 48 pence by the end of the month. The “bear trap but wrong-footed” framing implies momentum shifted quickly enough to punish bearish expectations.
Cora Gold: Some help from the gold prices, which were rising during the week. Here we have a bear trap rebound below the February support at 7.30 pence, above that we are looking for at least 10 pence, best case scenario in the next week or so.
Catenai: Is receiving support from gold strength. The pattern described is a bear trap rebound below February support around 0.30 pence. A target zone is suggested around 0.45 pence and the possibility of reaching it by the end of the month.
Delta Gold: is hoped to resume its rebound after a pullback early last month from close to 70 pence. Key technical landmarks: Broken neckline resistance around 46 pence. Potential retest of last month’s best levels around 69.5 pence. Top-of-channel target towards 80 pence by the end of next month. RSI has rebounded above neutral 50. Price is rebounding above the rising 50-day moving average around 41 pence, while remaining above 46 pence
Powerhouse Energy: Had a rally after an interview earlier in the month, but then slipped to new lows. Still, the structure described is a falling wedge rebound situation. RSI shows an uptrend line in the RSI window Targets: At least 0.40 pence (top of the wedge) Best case: top of the triangle up to the 50-day and 200-day moving averages around 0.5 pence by the end of next month. Condition: ideally remain above the first March low around 0.33 pence (as stated)
Silver Bullet: Has a “silver bullet” chart moment: a small bull flag breakout just above the 50-day moving average around 19 pence. Targets: 23 pence. Next bigger reference: top of the falling trend channel from last year around 31 pence, ideally by the end of next month
Synergia Energy: Has been a car-crash type of chart in the recent past, but it has started to show signs of stabilisation. An unfold gap to the upside from the March low. RSI remaining above 50, and the share price holding above the 50-day moving average around 0.009 pence, with a target of 0.023 pence by the end of next month (described as a punchy call)
Victoria: Shows a cleaner breakout: it has broken out of a falling wedge that has been in place for much of the last year. Key steps noted: Wedge line broken around 23 pence, quickly broke the 50-day line, which is now rising, broken resistance around 31 pence. Targets: Top of a broadening triangle up to 55 pence by the end of the month. Support condition: ideally stay above resistance on the way down around 36 pence.
Xtract: Finishes the small-cap list with strength despite “no news” at the end of the week. That kind of tape is often treated as a sign of underlying demand rather than short-term headline chasing. Bear trap rebound from below the 200-day line around 0.8 pence. End-of-day close through the 50-day line just above the current level. RSI has pushed above neutral 50. Targets: 1.3 pence, potentially by the end of next month or even sooner. Plenty of time is mentioned to reach it by the end of the month
How to think about these setups: what to watch next
Across indexes, crypto, commodities, and LSE small caps, the shared logic is consistent: markets are being judged by whether they can hold key levels and reclaim or reject key moving averages.
If you want a simple decision framework based on the way these charts are being read, look for:
- Break and hold: is price closing above resistance or the 50-day and 200-day areas?
- RSI regime: is RSI sustaining above 50 or failing below it?
- Channel behaviour: are moves respecting the channel floor, or breaking down through it?
- “Bear trap” signals: do early breakdown attempts get bought quickly enough to force a reversal?
That is the whole game in this Easter charting rundown: not just where targets are, but which conditions would confirm or invalidate the bullish thesis.
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.
