4-Hour Analysis:
Big Picture: SOL re-tested the daily support level after breaking below the 4-hour based demand zone. SOL bounced off this level as projected, but now needs to hold it to gain strength for a re-test of 87-90. On the upside, though, there are a number of resistances. Expect choppy and volatile sessions. Traders are advised to avoid heavy leveraged positions.
On Downside at 80.80 is seen as a major support for the day. However breaking below this is likely to open 77-72 as next levels of support followed by 65.
On Upside the intraday hurdle is at 85, with levels of 87-90 following. SOL must sustain above 90 in order to pull the strings back towards the 96-100 range.
