SOL – “Another reaction of Demand Zone”

1-Day Analysis:

Big Picture: It was indicated that SOL stood firm around the demand zone and that bulls were not ready to lose just as yet. Now post reaction a follow up is required to give more strength to bulls. SOL needs to break above 92-93 level and turn this level back into a strong support in-order to further extend the upside.

On Downside the day’s initial support is seen at 87, followed by 85. If this is broken, it will once again lead to 80.80. Multiple tests of this region will weaken the support eventually and open further downside towards 72-65.

 On Upside EMA-50 at 90 is the initial intraday resistance level, followed by 92-93. SOL has to break and maintain above these in-order to run aggressively. Doing so will open 96-100 and 105 as next targets.