Let me reiterate the 18.39 downside target first broached here a while back.  That’s where BP is going at a minimum, and it is the Hidden Pivot target of a long-term trend off the weekly chart. A lesser pattern implies 18.05, suggesting we’ll be able to do some bottom-fishing within a fairly narrow range just above 18.00. In the meantime, the stock’s down(fall) has been too brutal for easy shorting along the way down, although it’s still possible to squeeze off a low-risk shot intraday if you play close heed to a-b impulse legs on the 5-minute chart. _____ UPDATE (July 9): BP’s two-week rally is just shy of invalidating the 18.39 target.  That would take a move above 34.46 — point ‘C’, recorded June 11 on the way down; the so-far recovery high has been 33.90.