PSX · OIL & GAS MARKETING COMPANIES · Daily
WAFI Bull Pennant forming
Wafi Energy Pakistan Limited · 10 Nov 2026
▲ Bullish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 167.41
- ▲ 1.37%
- Upper line
- 166.85
- -0.3%
- Lower line
- 160.11
- -4.4%
- ATR
- 4.48
- 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 Daily candles · click to enlarge
The breakdown
WAFI is building a bull pennant after a 27.25 rally (6.1x ATR) on the daily chart.
The flag channel runs between 160.11 and 166.85. A daily close above 167.75 signals continuation towards 194.10; a close below 160.11 fails the pattern.
Structure: bullish external, bullish internal (strong low 124.00). Nearest demand OB 150.65 - 151.20, supply OB 173.20 - 175.79.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 166.85 (-0.3%) would be an upside breakout.
- 3 A daily close below 160.11 (-4.4%) 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.