PSX · OIL & GAS EXPLORATION COMPANIES · 1 Hour
PPL Bear Flag forming
Pakistan Petroleum Limited · 22 Oct 2026 · 11:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 215.50
- ▼ 0.04%
- Upper line
- 216.83
- +0.6%
- Lower line
- 213.94
- -0.7%
- ATR
- 1.59
- 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 1 Hour candles · click to enlarge
The breakdown
PPL is building a bear flag after a 8.30 drop (5.2x ATR) on the hourly chart.
The flag channel runs between 213.94 and 216.83. A hourly close below 213.62 signals continuation towards 205.64; a close above 216.83 fails the pattern.
Structure: bearish external, bullish internal (strong high 250.00). Nearest demand OB 207.21 - 210.00, supply OB 228.03 - 231.45.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 216.83 (+0.6%) would be an upside breakout.
- 3 A 1 hour close below 213.94 (-0.7%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bear flag
A bear flag is a sharp fall (the pole) followed by a short, gently rising channel (the flag); a break below the flag usually resumes the fall.
- Confirmation
- A close below the flag's lower line.
- Target
- The length of the pole, projected down from the breakout.
- Fails if
- A close above the flag's upper line.