Black gold is still the king of commodities, and right now there is nothing better than playing BP. This stock has seen a tremendous bounce since the Macondo Well Deepwater Horizon blowout, but it seems to be in a good place now. The chart shows an overbought condition, which has persisted for a while. The indicators are still on “buy,” and even if it is reined in a bit, this would still be a good place to enter. I am predicting that 50 is the next level.