What is pennant pattern?
A pennant pattern is a continuation pattern in technical analysis. After a sharp fall or rally you will find a pole in the top or bottom after a consolidation you will see a triangle in the top or the bottom. There after you have to wait for the breakout. if it found in the top then you should wait for the resistance breakout if you found pennant you have to wait for support breakout.
Normally pennant give us positional call and short term calls. you will have to check daily charts normally fir this kind of pattern.
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Lead is forming pattern which is called a bearish pennant also. Today Key support would be at 115.80 and Resistance is now seen near 118.45.
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