Hey Bodium, I'll answer inline with [Chemaes] at the end.
1. MACD crossed over a few days ago but it sure looks like it could cross back real quick. [Chemaes] It could, but remember the MACD is a very slow indicator, there could be a bounce in the dollar upward for 3 days or so without truly alterating the trajectory of the MACD's downward direction. You have to watch day by day.
2. It has now touched the lower BB 2 times in the last 3 days. Wm just mentioned the opposite regarding SLW. [Chemaes] I monitor direction changes utilizing many things and it really just depends on the stock, the sector and the dollar volume traded to determine which combination of tools I'll use.
3. STO look like they are really ready to turn.[Chemaes]I haven't been trading SLW but when I look at the chart right now, it said a turn was coming on Tuesday's close. That said, if you acted Tuesday, you would have been a day early, but better early with some profits I say. SLW has to go back down to test the $15 breakout point, it's the normal ebb and flow of price action. The price zones that might be tested are $15, $14.25 and $13.89.
4. It would not take much of an upswing to cross the 50 DMA, maybe two or three days? [Chemaes] I don't track 50 day moving averages, the information it provides is too old to be useful. Fund managers use to have show performance on quarterly basis (90 days) so using 50 day moving was ok. In today's times, some are having to show performance on a bi-weekly basis, weekly basis, and some on a daily basis. I use 5 day, 14 day and 28 day averages.
5. It is not far off being oversold on RSI.[Chemaes] Yeah, the RSI says it still has a way to go, maybe $2 to $3 dollars, but there will be ups and downs on this current trajectory.
I think to key to all commodity trades is to watch the dollar. Oil is very telling too.