SOL – “Play the Ranges”

4-Hour Analysis:

Big Picture: SOL is once again reaching the 4-H based support zone. This zone is expected to trigger partial short-coverings, but there is still a risk that SOL will breach this level and push it towards daily supports. However expecting choppy price action for the day.

On Downside at 92 level, the first intra-day support is observed. Between 91-87 level remains to be 4-H based Demand Zone that is protecting further downside. However break below that will once again open 80 followed by 65 level for SOL.

 On Upside the initial intraday barrier is at 97, followed by the level of 100. Breaking above 100, on the other hand, leads to 102, followed by 104.50.