CHAS Breaks Bending Resistance as a Bullish Retest Setup DevelopChashma Sugar Mills LimitedPSX_DLY:CHASmsid1CHAS Breaks Bending Resistance as a Bullish Retest Setup Develops CHAS’s daily chart shows price trading within a long-term ascending channel. The earlier breakout above the channel swept liquidity around the marked all-time-high region before price quickly returned inside, suggesting a fakeout rather than sustained bullish acceptance. Following that rejection, price declined beneath the marked bending resistance. Selling gradually slowed as the structure flattened near the highlighted 81–86 S/R interchange zone. The channel’s internal supply move also provides a reference for this potential reversal area. Price has now broken above the bending resistance with the identified bullish engulfing pattern and improved volume, suggesting that buyers are beginning to regain control. Speculative Outlook I’m watching for a pullback into the bullish-engulfing zone, particularly where it overlaps the 81–86 S/R interchange area. A successful retest followed by another bullish engulfing candle, hammer, or strong rejection would strengthen the probability of upward continuation. Holding this confluence and breaking the recent high around 97 could bring 105 into focus, followed by 110–115. Sustained buying beyond those levels could support a move toward the channel’s upper boundary. Alternatively, failure to hold the engulfing zone and a daily close below 81 would weaken the breakout setup. Price could then revisit the rounded base around 76–78, where a fresh bullish reaction would be needed to keep the reversal outlook intact. Disclaimer: Educational technical observation only — not financial advice.