PSX · INSURANCE · Daily
RICL Descending Triangle forming
Reliance Insurance Company Limited · 12 Nov 2026
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 11.81
- ▲ 3.14%
- Upper line
- 11.81
- 0.0%
- Lower line
- 10.87
- -8.0%
- ATR
- 0.50
- 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
RICL is compressing inside a descending triangle on the daily chart - 5 swing points, 9.9x ATR wide at the start.
Upper line 11.81, lower line 10.87. The pattern favours a downside resolution: a daily close above 11.91 confirms an upside breakout, a close below 10.77 a downside break.
Structure: bullish external, bullish internal (strong low 5.55). Nearest demand OB 9.08 - 9.81.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the daily chart.
- 2 A daily close above 11.81 (0.0%) would be an upside breakout.
- 3 A daily close below 10.87 (-8.0%) 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).