Market Overview

Oil Services Slide Early


This morning, all of the leading oil services stocks are declining lower. Earlier today, Halliburton Co (NYSE: HAL) reported earning that were below investors expectations. The stock is trading lower by $1.30 to $34.91 a share. Short term traders should watch for intra-day support around the $34.50 and $33.85 levels. The stock could see short term intra-day bounces from this area.

Traders that want to follow the entire oil services sector can follow the Market Vectors Oil Services ETF (NYSE: OIH). The OIH will have short term intra-day support around the $121.00 and $120.00 levels. Should the OIH trade higher this morning traders should watch for intra-day resistance around the $123.05 area.

Nicholas Santiago

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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