OIH

OIH remains in a Stage 4 decline with sequential lower highs and lower lows beneath its short- and intermediate-term EMAs, and the medium-term bias is firmly bearish as supply continues to dominate. A recent oversold bounce into the declining 9 and 20 EMA lacks rejection, offering no clean sell timing. The recommendation is to defer selling and trim into the EMA resistance zone and prior support-turned-resistance level under a patient stance, while watching for potential stabilization that could postpone further decline.

• ↑Oil prices rose over 3% amid Middle East clashes, supporting oil services revenue.
• ↑OIH's large holding Solaris Energy Infrastructure jumped after S&P SmallCap 600 inclusion.
• ↓IEA forecasts global oil demand drop, first annual decline since 2020.