To see a pencil in your dream indicates that you are making a temporary impact in a situation. It may also suggest that a relationship will not last long.
To dream that you are sharpening a pencil suggests that you need to be more flexible in your way of thinking. Listen to what others have to say; don’t be so quick to reject their views and opinions. Alternatively, to sharpen a pencil means that you need to make your best offer in some business deal. Perhaps the dream is trying to offer you some professional advice on how to close a deal.
To dream that you have pencil lead stuck in your fingers implies that you need to start putting your words into action.
Dreaming of colour pencils indicate that you are not letting your creativity go wild. You are very controlled in the way you express yourself.