looking for a upside retracement to make the lower high
the 0.50 level may be a problem
After a nice pop in shares volume is looking pretty thin up there and I think there may be a pull back on the way.
The Co's share price is very bullish at present. in terms of support areas we have the upward trendlines and also the top of the previous channel that could provide some support. The psychological 9 level may come into play. Although my bias is long I think we may see a small pull back
Both of these companies are in a bull trend and looking to test the most recent value area. If the OPEC deal stays in tact, we may see a move higher to test the highs or maybe even move to a new distribution higher up. One thing you may notice is the difference in the retracement phase between the two. BP's correction seems to be much deeper and the next support...
Clear rejection of a previous value are but I still expect prices to move lower before a consolidation.
Remember it has no time axis on P&F charts, look for the break