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<\/span><\/p>\nTherefore, if we anticipate some amateur dramatics with oil prices, BP have a share price which is poised for some fun.<\/span><\/p>\n From a near term perspective, eyebrows should twitch if the share price falls below just 515p. Movement such as this is currently capable of driving reversals to an intial 490p with our secondary, if broken, calculating down at 459p along with a valid argument for a bounce. The crazy thing, this should see US Crude back in the 50 dollar range, along with Brent splashing around in the low 60’s. But for BP, if our calculation of a “bottom” at 459p breaks, we can present a visually absurd potential at 387p.\u00a0 Unfortunately, it’s not that absurd, given it matches prices in 2025 before the Strait of Hormuz became a no boating zone.<\/span><\/p>\n The somewhat annoying calculation with BP is the price level of 550p, share price closure above which capable of targeting a “surprise” rise to an initial 652p with secondary, if bettered, an eventual 721p.<\/span><\/p>\n We think, with the USA and looming elections, oil prices shall be forced to reverse, probably give the major oil shares a bit of a hammering and in BP’s case, a hopeful bounce point at 459p. It’s funny to speculate, economically, the only people who are benefiting from the Straits shambles are the people actually involved in it. Which is a bit mad and if only the war against our neighbours hedge could produce a similar result. (We don’t care how big the hedge grows as it belongs to a neighbour who is paranoid about the 2 metre height designation. But terrified at the cost of removing, annually, a substantial amount of cuttings. And from our side of the fence, the little tractor gathers everything and drags it up to the burn pile. It’s a strange hedge war, the “victim” not complaining and the culprit in a flat panic. But then again, we’ve a massive garden area but other properties locally tend to be very large and with sensible garden sizes. The other neighbour has a 9 bedroom house, our properties separated by a wall, a pretty energetic stream and the noisy waterfall we complain about, often. Both neighbours admit they wish they’d our simple little cottage, where the only challenge is cutting the sodding grass. Our little mowing robot is “resting”, while we await a dry period to finish digging the robot perimeter cable into the ground.<\/span><\/p>\n But this is Argyll, where Scotland probably invented rain! After all, the sodden country invented everything else.<\/p>\n Should BP somehow decide to exhibit some strength, above 550 should designate a growth cycle to an initial 652p with our secondary, if beaten, working out at 721p sometime in an imaginary future. Our suspicion, backed up by the weakening charts above, is to anticipate reversals.<\/p>\n FUTURES<\/p>\n![](\"http:\/\/www.trendsandtargets.com\/img\/bp110626b.jpg\")
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