The fund that tracks WTI oil is showing life by forming a price bottom and displaying some bullish momentum at least in the near-term.USO 1H Chart 2/22(click to enlarge) Early Price Bottom Signal: Looking at the 1H chart, we can see the RSI tag 70 and now hold above 40. This shows bullish momentum developing. You can see from price action as well that USO has been consolidating around 8.50 and is now trying to hold above this pivot.More Clues: If price can push above 9.00 and hold above 8.50 on a subsequent dip, we can have more confidence of the bullish outlook. Otherwise, the last month of price action would have simply been a consolidation with further downside. So, let's not get excited yet. We are seeing some early signs of a price bottom, but the overall trend is still bearish. Let's get a couple more clues like the one mentioned above (break above 9.00, hold above 8.50), before calling it a price bottom.