NASDAQ move up to test 14000 or backdown to retest recent low?

Here are my core trading channels and trend lines for the NASDAQ. NDQ is currently holding just under the midline of the down channel. You can see that we had a bounce off the support of the black channel and midline of the purple channel. NDQ is still looking pretty oversold, but at a clear decision point. IMO, a retest of the recent low for support is most probable and then a test of the resistance of both the red down channel and the purple channel around 14000. We could bounce right from here to that level as the other option. A new low is always an option if we get a retest and it fails, but it is not clear that the market is ready to fall that far yet after such a big sell off the last several months.

1D

Comment:

4h