PSX · EXCHANGE TRADED FUNDS · 30 Min
UBLPETF Bear Pennant forming
UBLPakistan Enterprise ETF · 19 Oct 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 27.80
- ▼ 0.43%
- Upper line
- 27.96
- +0.6%
- Lower line
- 27.81
- +0.0%
- ATR
- 0.08
- Target
- Invalidation
- Pattern lines
- Fair value gap (bull / bear)
- Order block
- Strong / weak high and low
- BOS · CHoCHstructure breaks
SMC Structure · Order Blocks · FVG · Pattern Detector 30 Min candles · click to enlarge
The breakdown
UBLPETF is building a bear pennant after a 2.05 drop (24.8x ATR) on the 30-minute chart.
The flag channel runs between 27.81 and 27.96. A 30-minute close below 27.79 signals continuation towards 25.76; a close above 27.96 fails the pattern.
Structure: bearish external, bearish internal (strong high 28.99). Nearest supply OB 30.85 - 30.99.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 27.96 (+0.6%) would be an upside breakout.
- 3 A 30 min close below 27.81 (+0.0%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bear pennant
A bear pennant is a sharp fall followed by a small symmetrical triangle; a break below it usually continues the fall.
- Confirmation
- A close below the pennant.
- Target
- The length of the pole, projected down from the breakout.
- Fails if
- A close above the pennant.