OIH Descending Channel on the Monthly?

AMEX:OIH   VanEck Oil Services ETF
Appears to be a descending channel happening on the Monthly TF. Is the reversal happening? I believe so with the resurgence play still intact this thing is a ticking time bomb. Oh and airspace on the MACD this setup appears extremely bullish . I'm a buyer here on leaps and common stock and plan on holding for the next 5-10 years I will retire at 35.

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