I think there is a good chance it is. Even though it appears that OIH, OXY, and DVN will bounce off of support as they have been, don't be surprised if they don't - see RIG. Also, often times when stocks snap back to their trendline steeply/abruptly, said trendline is unable to hold up against the momentum.
RIG
OIH
OXY
DVN
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