Bullish Rest Period for Oil Services

Lots of volatility the last three sessions in the Oil Service HLDRs (AMEX: OIH) ETF, but let's notice that all of it has occurred above 150.00, which represents the upside breakout point of a 10-month accumulating pattern. From my (technical) perspective, a bullish rest-digestion period is developing above 150, which should resolve itself to the upside in a thrust to 155.00 next.