PSX · INV. BANKS / INV. COS. / SECURITIES COS. · 30 Min
PSX Bear Pennant forming
Pakistan Stock Exchange Limited · 06 Nov 2026 · 15:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 41.50
- ▲ 0.22%
- Upper line
- 41.82
- +0.8%
- Lower line
- 41.33
- -0.4%
- ATR
- 0.44
- 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
PSX is building a bear pennant after a 2.69 drop (6.2x ATR) on the 30-minute chart.
The flag channel runs between 41.33 and 41.82. A 30-minute close below 41.24 signals continuation towards 38.64; a close above 41.82 fails the pattern.
Structure: bullish external, bullish internal (strong low 38.80). Nearest demand OB 40.15 - 40.50, supply OB 45.25 - 45.74.
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 41.82 (+0.8%) would be an upside breakout.
- 3 A 30 min close below 41.33 (-0.4%) 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.