SOL-“Further relief expected”

4-Hour Analysis:

Big Picture: Bulls stepped up and showed the strength. Relief after Monthly closing was much expected and lived up to the hype. Moving forward SOL has broken above the 4-H consolidation range and is now taking immediate support from it. As long as we stay above 104, further relief remains on card.

On Downside 104 acting as immediate support followed by 96. If SOL re-tests 96-98 region and bounces successfully then on short term 80 is likely to act as local bottom.

On Upside SOL has escaped the channel of aggressive selling and has stepped into Neutral territory. First level of intra-day resistance is seen at 109 where EMA-100 4-hourly is present followed by 110-115 region. Any break and stronghold above this region is likely bring the next supply zone at 125-130 into play.