PERL is on a potential descending triangle coming from a strong downtrend. To trade, this type of pattern is to wait for the break trend-line support or resistance. Waiting for extra confirmation and letting the market tell us what to do is the best way how to enter this type of situation. If the pattern breaks to the upside, we go long position and if the support breaks to the downside, we open a short position. Being cautious is important today as all sectors are full of fear and uncertainty.