SPX500 H1: Buyers Preparing to Take Back ControlUS SP 500 CFDFOREXCOM:SPX500martin_waternThe S&P 500 has just formed a bottom at the 7.400–7.410 support zone following a sharp decline through the 7.440–7.460 supply zone, and is now showing signs of bouncing back up. After a stretch of sessions dominated by sellers, this could be the first signal that buying pressure is returning to take short-term control. My plan is to buy right at the current price level around 7.408–7.412, stop loss below 7.395 (below the support zone), first target at 7.440 and a further target at 7.468 (the supply zone above) if the bounce continues. The biggest risk is if price loses the support zone and closes below 7.395 — in that case, sellers would still be in control, and I'll stay on the sidelines waiting for a new structure rather than forcing a buy. This is just my personal take based on technical analysis. Wishing you successful trading.