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Allow allThe bearish pennant is a chart pattern that is formed by a downward sloping resistance level and a converging support level. This pattern is created when the price of an asset makes a sharp move upwards and then consolidates, forming a small symmetrical triangle. The bearish pennant is a continuation pattern, which means that it is typically seen as a bearish sign and indicates that the asset’s price is likely to continue falling.
To form a bearish pennant, the asset’s price will typically make a series of lower highs and higher lows, as it consolidates within the converging support and resistance levels. The pattern is typically completed when the price breaks through the support level, at which point it is likely to continue falling as traders enter into short positions.
One of the key characteristics of the bearish pennant is that the trading volume tends to decrease as the pattern progresses. This is because the price is consolidating within a small range and there is less activity from traders. However, once the price does break through the support level, trading volume tends to increase as traders enter into short positions and push the price lower.
It is important to note that the bearish pennant is a bearish pattern, but it is not a guarantee that the asset’s price will fall. As with any trading strategy, it is important to use risk management techniques and to always be aware of the potential for losses.
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Moneta Markets is a trading name of Moneta Markets (Pty) Ltd, an authorised Financial Service Provider (“FSP”) registered and regulated by the Financial Sector Conduct Authority (“FSCA”) of South Africa under license number 47490 and located at 1 Hood Avenue, Rosebank, Johannesburg, Gauteng 2196, South Africa. Company Registration Number: 2016 / 063801 / 07. Contact Phone Number: +27 (10) 1429139. Operational Office: Unit 7, 31 First Avenue East, Parktown North, Gauteng, Johannesburg, 2193, South Africa.
Mmonexia Ltd, facilitates payment services to the licensed and regulated entities within the Moneta Markets Organizational structure.
Mmonexia Ltd registered in the Republic of Cyprus with registration number HE436544 and registered address at Archbishop Makarios III, 160, Floor 1, 3026, Limassol, Cyprus. Mmonexia Ltd, facilitates payment services to the licensed and regulated entities within the Moneta Markets Organizational structure.
Moneta Markets Limited. Business Registration Number:72493069. Registration Address: Flat/RM A 12/F ZJ 300, 300 Lockhart Road, Wan Chai, Hong Kong. Contact Phone Number: +852 37522556. Operational Office: Unit 1201, 12/F, FWD Financial Centre, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.
Moneta Markets is a trading name of Moneta Markets (Pty) Ltd, an authorised Financial Service Provider (“FSP”) registered and regulated by the Financial Sector Conduct Authority (“FSCA”) of South Africa under license number 47490 and located at 1 Hood Avenue, Rosebank, Johannesburg, Gauteng 2196, South Africa. Company Registration Number: 2016 / 063801 / 07. Contact Phone Number: +27 (10) 1429139. Operational Office: 31 First Avenue East, Parktown North, Gauteng, Johannesburg, 2193, South Africa.
Moneta Markets is a trading name of Moneta Markets Ltd, registered under Saint Lucia Registry of International Business Companies with registration number 2023-00068.
Mmonexia Ltd, facilitates payment services to the licensed and regulated entities within the Moneta Markets Organizational structure.
Moneta Markets PTY LTD soliciting Business from UAE through a Non-Exclusive Introducing Broker Agreement Regulated by SCA , Sterling Financial Services LLC ,Cat 5 ,No 305029