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Oil Service Stocks Drop, Watch This Level

|Includes: VanEck Vectors Oil Services ETF (OIH)

Most of the leading oil service stocks are falling lower during today's trading session. The important Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading lower by 0.55 cents to $45.15 a share. Short term day traders should watch for intra-day support on the OIH around the $44.85 level. This is an area where day traders can look for a short term intra-day bounce.

Some of the leading oil service stocks that are falling lower today include Baker Hughes Incorporated (NYSE:BHI), Halliburton Company (NYSE:HAL), and Schlumberger Limited. (NYSE:SLB). All of these stocks will generally trade in tandem with OIH, so traders can expect bounces in these names around the OIH support area.

Nicholas Santiago