This week did a lot to shake my resolve on the continuing bear market in the energy sector. Let’s look at three charts and discuss why they are at critical levels. The OIH (US Oil Services ETF) has broken the downtrend for the first time since oil topped and started to break down. The Relative Strength closed just above the trend line on Friday. If nothing else, it indicates a change in trend for the XOP. The actual price of the XOP has now made a higher high but is still well below the trend line. The extreme volume shows a huge level of interest.