To be fair, I can see the potential for a penant, however until there is a downside break...well...it isn't one! I'm not being smart here - as I understand it, flags and penants are formations which are only confirmed on a break in the predicted direction. Until that happens, they are just potential formations.
Anyway, RSI and MACD and virtually every other technical indicator would need to fall to historic lows for that to happen, whereas they are presently in recovery mode.
