The popular Oil Services Holders Trust (NYSE:OIH) is trading sharply lower this morning by $1.52 to $154.52 a share. The decline in the OIH comes as crude declines by 0.81 cents to $86.67 a barrel. Traders should watch for intra-day support on the OIH around the $153.25 – $153.00 area. Should the OIH decline further there will be more support around the $152.00 level.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.