This morning, all of the leading oil services have begun to decline lower on the session. The important Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading lower by 0.18 cents to $35.83 a share. This indicates that most of the leading stocks in the industry group are now coming under selling pressure. ...Continue reading here
Some leading oil service stocks that are trading higher today include Halliburton Co (NYSE:HAL), Baker Hughes Inc (NYSE:BHI), and Schlumberger Ltd (NYSE:SLB). All of these stocks should be watched closely today as they are showing good intra-day relative strength. Stocks with relative strength will often lead markets higher if the major stock indexes head higher. ....
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 ...
This morning, the oil services stocks are all weak at the start of the trading session. The important and highly followed Market Vectors Oil Services ETF (NYSE:ARCA:OIH) is trading lower by 0.32 cents to $40.54 a share. Short term traders should watch for intra-day support around the $40.15, and $39.78 levels.
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.
Crude oil has been surging higher as of late. On December 16, 2011 light sweet crude was trading as low as $92.52 a share. A few days ago crude traded near $110.00 a barrel. This morning, the highly followed and traded United States Oil Fund (NYSEARCA:USO) is trading higher by 0.30 cents to $41.22 share. Oil remains in a very strong uptrend on the daily charts at this time.
Oil Service Stocks Pause Despite Geopolitical Events
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.
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This morning, all of the leading oil service stocks are coming under selling pressure. The popular and highly traded Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading lower by $2.25 to $128.85 a share. Short term traders can watch for intra-day support around the $128.00, and $127.00 levels. Traders can watch for intra-day bounces around these levels.