Crude Can't Hold Gains

In candlestick chart analysis, a hammer occurs when the price of a security dips significantly lower than its opening price, but rallies later in the same period and ends close to or above the opening price.

Turning to the energy patch, Lehman Brothers upgraded shares of Murphy Oil(MUR Quote) to overweight from equal-weight, helping lift the shares 2.3%.

RBC Capital Markets and AG Edwards both initiated coverage of Atlas Energy Resources(ATN Quote) with buy ratings. The stock rose 1.1%.

Elsewhere, the U.S. Oil(USO Quote) exchange-traded fund fell 1.3%, while the iPath Goldman Sachs Crude Oil(OIL Quote) ETF was down by 1.4%.

Major producer Exxon Mobil(XOM Quote) was off 0.9%, and Chevron(CVX Quote) was lower by 1.5%.