BP has formed 2 cup and handles, a smaller one inside the larger one. Price target remains retracement upward, around 31. following 31 we can see 37 by EOY. On the fundamental side take a look at the 20 year crude futures chart. W We just broke out of immense resistance line at 60 dollars a barrel. Crude can expect to see $75 shortly which only helps oil stocks like xom cvx and bp.