Geopolitical tensions have resulted in a spike in crude oil prices that has market participants on edge. The rally has yet to reverse cyclical downtrends in crude oil prices and energy sector benchmarks, but reversals are made more likely in the coming weeks by a meaningful shift in momentum. The generic WTI crude oil futures chart shows a confirmed a weekly MACD ‘buy’ signal, indicating that intermediate-term momentum has seen a significant upward shift. At the same time, overbought conditions are not yet in place per the weekly stochastic oscillator, suggesting that the rally in WTI crude oil prices may have staying power for several more weeks. For now, the upmove behind WTI crude oil is counter-trend in nature, meaning that the primary trend is lower. This is evidenced by the falling weekly cloud model, denoted by the shaded area on the chart, which shows key resistance near $77/bbl. If this level is cleared decisively, it would suggest the cyclical downtrend in WTI crude oil has been reversed. Secondary resistance is at a Fibonacci retracement level near $84/bbl. Support is initially near $65/bbl. and at the rising 50-day (~10 week) moving average (MA). Oil services stocks have naturally been out of favor the past couple years while oil prices have trended lower, but they should outperform the broader equity market in the short term. Similar to the chart of WTI crude oil, the VanEck Oil Services ETF (OIH) has improved intermediate-term momentum and no signs of upside exhaustion, increasing the likelihood of a breakout above a Fibonacci retracement level near $257 for a secondary objective of $298. Clearing the 38.2% Fibonacci retracement level would be the first step for OIH in reversing its long-term downtrend. There is a long-term oversold condition that could give way to a ‘buy’ signal at month-end, assuming OIH finishes the month around current levels or higher. If this occurs, we would feel more comfortable building long-term exposure to oil services stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. 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