This morning, all of the leading oil service stocks are coming under selling pressure. The important oil services sector has been very weak since late February 2012. Today, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is declining lower by 0.91 cents to $35.05 a share. Short term traders can watch for intra-day support around the  ...

The highly popular and important oil services stocks have been weak relative the major stock indexes since late February 2012. This morning, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading lower by 0.97 cents to $42.02 a share. It is important to note that the OIH is now trading below the daily chart 50, and 200 moving averages.

Almost everyone that trades energy or the oil service stocks is talking about the Iranian situation in the Middle East. The tensions in the region seem to be building on a daily basis. This event is certainly keeping a bid in the oil and energy markets. Normally, these geopolitical events will keep a bid under the oil service stocks, however, at some point that will change.