Bullish on Oil & Gas ETF

My hourly work is ³warning² me that crude oil¹s powerful rally off of yesterday¹s low at 69.83 into the morning high at 73.3 exhibits a bullish profile, which indicates to me that new uptrend might have started rather than the strength representing an oversold bounce after Tuesday¹s powerful dwonside reversal spike. If the bullish scenario is unfolding, then at no time should oil prices violate 69.83. Conversely, pullbacks into the 71.50/00 area likely will be met with another round of buying