OIH

OIH remains structurally bullish within its larger uptrend despite the recent pullback, having rebounded from oversold levels and begun recovering above short-term EMAs. With ascending EMAs acting as dynamic support and no exhaustion visible, immediate participation on shallow pullbacks into the 9/20 EMA zone is favored, targeting a move back toward the 50 SMA.

• ↑Momentum Indicator turned positive Aug 10 as 10-day MA crossed above 50-day MA.
• ↑OPEC demand forecast cuts and Hormuz shipping disruptions tighten supply.
• ↓Rising U.S. crude inventories heighten demand destruction risk.