Since mid-March steel Market Vectors Steel ETF, SLX, is bouncing off the oversold territory. Now it is approaching the resistance from the down trend-line from the double top made in December. The major holdings of the ETF are: Rio Tinto (RIO), Vale (VALE), Arcelor Mittal (MT), Posco (PKX). Nucor (NUE) and Reliance Steel (RS). All are showing similar…