PSX · OIL & GAS EXPLORATION COMPANIES · 30 Min
PPL Bull Pennant forming
Pakistan Petroleum Limited · 05 Nov 2026 · 12:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 220.69
- ▲ 0.04%
- Upper line
- 220.98
- +0.1%
- Lower line
- 220.17
- -0.2%
- ATR
- 1.09
- 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
PPL is building a bull pennant after a 6.11 rally (5.6x ATR) on the 30-minute chart.
The flag channel runs between 220.17 and 220.98. A 30-minute close above 221.20 signals continuation towards 227.09; a close below 220.17 fails the pattern.
Structure: bearish external, bullish internal (strong high 250.00). Nearest demand OB 216.86 - 217.24, supply OB 221.70 - 223.29.
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 220.98 (+0.1%) would be an upside breakout.
- 3 A 30 min close below 220.17 (-0.2%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bull pennant
A bull pennant is a sharp rise followed by a small symmetrical triangle; a break above it usually continues the rise.
- Confirmation
- A close above the pennant.
- Target
- The length of the pole, projected up from the breakout.
- Fails if
- A close below the pennant.