This morning, many of the leading oil service stocks are struggling to catch a bid higher. Today, the important Market Vectors Oil Services EFT (NYSEARCA:OIH) is trading lower by 0.01 cent to $39.92 a share. This important ETF is sitting just above the 200-day moving average which is being watched by many traders and investors. The OIH will have near-term daily chart support around $37.50, should it continue to decline. Intra-day traders can watch for short-term support for the OIH around the $39.40, and $39.00 levels should the ETF slide lower on the session.
Some leading oil service stocks that are declining lower today include Apache Corporation (NYSE:APA), Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited (NYSE:SLB), and Transocean LTD (NYSE:RIG). All of these stocks will generally trade in tandem with the OIH, however from time to time they will trade in their own universe. Traders must always look and follow each chart individually.
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Oil Services Continue To Struggle
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