Oil Services Stocks Rally Early
This morning all of the major oil services stocks are trading higher during the first fifteen minutes of the day. The highly popular and traded Oil Services Holders Trust(NYSE:OIH) is trading higher by $1.65 to $161.00 a share. The pattern on the daily chart remains very good as the OIH has consolidated for the past four trading sessions. Intra-day traders must watch the $161.60 and $162.00 levels for resistance. These areas could be short term intra-day pullback levels for the OIH.
Halliburton Co.(NYSE:HAL) is a leading oil services company that is trading higher by 0.87 cents to $46.91 a share. This stock will have intra-day resistance around the $47.00 area. Should the stock rally further traders must watch the $47.50 as the next intra-day resistance level.
Schlumberger Ltd.(NYSE:SLB) is rallying higher this morning by $2.00 to $88.90 a share. This leading oil services stock should meet important intra-day resistance around the $89.75 level. Should the stock trade higher the $90.25 area would be the next intra-day resistance level for the stock.