PSX · OIL & GAS MARKETING COMPANIES · 30 Min
PSO Head & Shoulders forming
Pakistan State Oil Company Limited · 06 Nov 2026 · 09:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 358.90
- ▼ 0.82%
- Target
- 321.59
- -10.4%
- Invalidation
- —
- ATR
- 2.18
- 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
PSO has completed a head & shoulders on the 30-minute chart with the head at 370.18 and the neckline at 348.44.
The pattern is confirmed by a 30-minute close below 348.00. The measured move from the neckline points to 321.59 (-7.7%). A close beyond the head at 370.18 cancels it.
Structure: bullish external, bearish internal (strong low 332.21). Nearest demand OB 341.90 - 344.97, supply OB 367.35 - 368.49.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 358.90.
- 2 The target, 321.59 (-10.4%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.