Today's push up in prices was definitely strong, delaying if not outright overriding the short-term bearish cycle that would normally manifest itself at this time. One thing that at least is still recognizable is that the BP is following its bullish 'seasonal' pattern that usually leads up to June 1-2 followed by a pullback.

While today is only 1 day removed from 5/26, its 'how' it moved up today that concerns me. This was no soft move as BP went for new heights. You don't want to fight a train, so no trigger to sell availed itself. While there is still the possibility of 'some kind' of correction in BP, which a move below 5/27 low would signal, it would likely be very short-lived.

I will be watching the hourly chart in BP for a stoch and MACD oversold and swing up. If this occurs without violating the 5/27 low, it could be a good place to re-enter the upward trend. Even a break below the low would not invalidate trying to re-enter with the trend. Only you'd want to be careful to protect that position tight so as not to be caught in a corrective period.

:)
Rick