This morning, many o f the leading oil service stocks are trading higher on the day. The popular and highly followed Market Vectors Oil Services ETF (OIH) is trading higher by 0.21 cents to $39.04 a share. Short term traders should watch for intra-day resistance around the $$39.27, and $39.85 levels. The daily chart of OIH is short term oversold, however, the OIH is now in a weak technical position trading below the 20, 50, and 200 moving averages.
Some leading oil service stocks that are trading higher today include Halliburton Co (HAL), Baker Hughes Incorporated (BHI), Schlumberger Limited (SLB), and Apache Corporation (APA). Traders and investors should also note that oil is trading higher today and that will usually help the oil service stocks.