Buy: Oil Service ETF (OIH 129.35) 60 min diverging momentum suggests bottoming process

Rational: Oil prices are starting to suggest a temporary bottoming process. The information process of price change usually starts with a price shock, reasoning to explain the change, then a temporary recess as investors adjust their sentiment to the change. Often what happens concurrently is a price adjustment in the form of a reverse move. This chart of the OIH is displaying all the signs of that reverse adjustment.

Technicals include: 60 min chart: diverging upside momentum w/ falling ADX numbers. Daily RSI (14) is oversold while crude oil holds current support levels.

Target: 133.15 (Jan 8th high)
Stop: 125.75 (14 day ATR 3.5 pts)