After leading the market up in the past few months, the Oil Service HOLDRs ETF (OIH) has pulled back, and is consolidating above all moving averages. OIH is creating a new pivot buy area above $162. I am long Tier 1 within this area looking for an additional buy above $162. My target is back to Highs on the year and through that it should get to $170. Stops would be at $159.
*DISCLOSURE: Long OIH
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