** Market Vectors Oil Services ETF chart action pointing to further gains ahead
** Oil & gas ETFs including OIH and Energy Select Sector SPDR Fund handily outperforming S&P 500 YTD with 11-pct gains vs 2.3 pct for the broad market index
** Underlying commodities especially volatile and mixed with NYMEX crude futures up nearly 20 pct YTD vs 10 pct decline for NYMEX nat gas
** Meanwhile, sectors buffeted by news US energy firms cut oil rigs to lowest since Nov 2009, while ETF members Halliburton and Baker Hughes merger deal may fall through
** Nevertheless, OIH showing constructive price action, and like XLE, looks poised for further gains. Chart: tmsnrt.rs/1SI6TUT
** OIH just closed above 40-WMA for first time since bearish break in Sept 2014; 3 prior rallies proved counter-trend and ETF failed to reclaim key long-term MA
** Additionally, weekly MACD bullish and pressing highest levels since late 2014; study nearing zero-line inflection
** Thus, OIH appears focused on resistance in $32.78/$34.80 area, and eventually 50 pct Fibo retracement of 2014/2016 bear can call for return to $39.23/$39.79
** Reversal below 40-WMA can stall, and under $25.13 can threaten sub-$20.46 levels again
** Top OIH holdings by pct TNA end-of-Mar include Schlumberger, Halliburton and Cameron Intl