XJO hit support yesterday at closeHas the upsloping support line...

XJO hit support yesterday at close
Has the upsloping support line (since march 09 low) as support below and first Fib level

Note:
- stochastics have evidently broken below uptrend, with quite a lot of room to move downwards (at just 50);
- MACD still above zero, no lower highs and lows yet with the rising price so no major warning signs for huge correction. It is also approaching support line;
-momentum has crossed below zero, however reaching support
- The uptrending channel is still in tact, each time it has touched the lower line since July 2010 it has completed the yellow range.
- Bounce expected??? most likely a dead cat bounce with my ultimate view for it to retest the lower channel trend for entry.