Yes, I forgot to mention the .12 support level on the daily chart which is important and was another factor in my head. If .12 doesn't hold, we won't get the STO crossover and will have to wait longer for the reversal to set up. Or it could be a major headfake if .12 doesn't hold. But not a bad place to take a position for the anticipated reversal.
This has been a steady downward fall which makes calling the bottom very difficult. It's gotta come at some point and there are signals that we're near "a" bottom. Whether or not it is "the" bottom will be determined by the .12 support level.
Another thing to consider is that I believe a true trend reversal (as opposed to a technical bounce) will need to occur probably due to positive news.
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