PSX · ENGINEERING · 1 Hour
ASL Bear Pennant forming
Aisha Steel Mills Limited · 04 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 13.57
- ▼ 0.80%
- Upper line
- 13.73
- +1.2%
- Lower line
- 13.27
- -2.2%
- ATR
- 0.22
- 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
ASL is building a bear pennant after a 1.28 drop (5.9x ATR) on the hourly chart.
The flag channel runs between 13.27 and 13.73. A hourly close below 13.23 signals continuation towards 11.99; a close above 13.73 fails the pattern.
Structure: bearish external, bearish internal (strong high 18.40). Nearest demand OB 12.60 - 12.82, supply OB 14.12 - 14.48.
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 13.73 (+1.2%) would be an upside breakout.
- 3 A 1 hour close below 13.27 (-2.2%) 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.