It does sound like a boil which can be due to in grown hair. Have you tried to squeeze it at all or did the scab come on it's own from bursting open? If so, either way, this could be why the 2nd lump is there, filled with pus. You can keep doing the moist compress for another day, can take generally 2-3 days. But from the description, sounds as though the follicle is infected.