PSX · REFINERY · 30 Min
PRL Bear Pennant forming
Pakistan Refinery Limited · 03 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 84.50
- ▲ 0.10%
- Upper line
- 85.17
- +0.8%
- Lower line
- 83.30
- -1.4%
- ATR
- 1.20
- 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
PRL is building a bear pennant after a 17.16 drop (14.3x ATR) on the 30-minute chart.
The flag channel runs between 83.30 and 85.17. A 30-minute close below 83.06 signals continuation towards 66.14; a close above 85.17 fails the pattern.
Structure: bullish external, bearish internal (strong low 74.74). Nearest demand OB 82.10 - 82.48, supply OB 97.70 - 99.30.
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 85.17 (+0.8%) would be an upside breakout.
- 3 A 30 min close below 83.30 (-1.4%) 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.