PSX · OIL & GAS MARKETING COMPANIES · Daily
PSO Descending Triangle forming
Pakistan State Oil Company Limited · 02 Nov 2026
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 347.15
- ▼ 2.33%
- Upper line
- 369.80
- +6.5%
- Lower line
- 341.76
- -1.6%
- ATR
- 8.23
- 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
PSO is compressing inside a descending triangle on the daily chart - 5 swing points, 7.5x ATR wide at the start.
Upper line 369.80, lower line 341.76. The pattern favours a downside resolution: a daily close above 371.45 confirms an upside breakout, a close below 340.11 a downside break.
Structure: bearish external, bearish internal (strong high 506.75). Nearest demand OB 260.00 - 274.90, supply OB 473.71 - 490.40.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 369.80 (+6.5%) would be an upside breakout.
- 3 A daily close below 341.76 (-1.6%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).