Oil Services Stocks Fuel Higher

This morning, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading higher by $2.17 to $126.16 a share. It seems that there was favorable court ruling for Transocean Ltd (NYSE: RIG) regarding the Deepwater Horizon oil spill. RIG stock is trading higher by $1.53 to $48.76 a share. Leading oil services stocks such as Halliburton Co (NYSE: HAL), Baker Hughes Inc (NYSE: BHI), and Sclumberger Ltd (NYSE: SLB) are all trading higher this morning. It is important to note that all of these stocks are trading near short term resistance levels on the daily charts.

Nicholas Santiago
InTheMoneyStocks.com

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