Chart Pattern Alert: Bearish Pennant Forming!

Asset: $RIVER
Timeframe: 15m

Pattern Identified: Bearish Pennant Structure
Confidence: 77.9% | Maturity: 83.2%

Observation: Volatility appears to be compressing as the price action is being contained between converging trendlines (resistance and support). This formation is generally characterized by a sharp move down (the flagpole) followed by a period of consolidation within the pennant shape.

Educational Note: Pennant patterns, including the bearish pennant, are continuation patterns that often resolve in the direction of the preceding trend in this case, a bearish trend.

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