PSXThe price movement is exhibiting a pattern of higher highs and higher lows, signaling a bullish trend. Presently, there is a retracement following the establishment of a higher low, which coincides with a significant support level. This suggests a potential continuation of the bullish trend.
The initial target price is aimed towards the previous high at 16.60. Further, upon a breakout and sustained trading above this previous high, an anticipated new higher high level around 18.10 is envisaged.
To manage risk effectively, it is advisable to implement a stop-loss at 13.90.
