PSX · OIL & GAS MARKETING COMPANIES · 30 Min
OBOY Bear Pennant forming
Oilboy Energy Limited · 02 Nov 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 13.62
- ▼ 0.51%
- Upper line
- 13.88
- +1.9%
- Lower line
- 13.65
- +0.2%
- ATR
- 0.23
- 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 30 Min candles · click to enlarge
The breakdown
OBOY is building a bear pennant after a 1.39 drop (6.1x ATR) on the 30-minute chart.
The flag channel runs between 13.65 and 13.88. A 30-minute close below 13.60 signals continuation towards 12.26; a close above 13.88 fails the pattern.
Structure: bullish external, bearish internal (strong low 10.35). Nearest demand OB 10.35 - 10.70, supply OB 14.31 - 14.75.
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 13.88 (+1.9%) would be an upside breakout.
- 3 A 30 min close below 13.65 (+0.2%) 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.