Bull flag patterns are best identified on a candlestick ... If the flagpole peaks and then forms lower highs and higher lows, this may be a pennant pattern. While these are bullish patterns ...

Dubbed a "bull flag,” the pattern forms when the price consolidates lower in a descending channel (flag) following a strong move upward (flagpole). Ultimately, the price breaks above the channel ...

Gold has failed to follow through on a bull breakout of a pennant pattern triggered last week. On Tuesday, it fell sharply to a six-day low of $2,888 thereby triggering a breakdown of the pennant ...