$SOX Short Term Momentum Shift in Play?PHLX SemiconductorTVC:SOXROW_PartnersTaking a close look at the 4Hr timeframe for the actionable setup, while keeping the Daily chart in view to maintain perspective on the broader picture. Key Technical Observations Support Holding Firm: SOX recently tested and bounced cleanly off key horizontal support, indicating buyers are stepping in to defend this level. Gap Analysis: The gap to the upside remains relatively minuscule. The newer gap formed today is a tad larger, creating a clear short term liquidity target above. RSI Trend Break: RSI on both timeframes is putting pressure on its descending resistance line, threatening to break out of the prevailing downtrend. TTM Momentum: The TTM Squeeze histogram is throwing darker bars, signaling that short term selling pressure is decelerating. The Setup & Outlook While the medium-term structure retains some caution, the confluence of a support bounce, slowing downside momentum on the TTM, and an RSI trendline test suggests short term bearish momentum has a solid chance to swing positive. A breakout on the RSI accompanied by follow through volume could easily trigger a move to fill the miniscule gap and push price back toward upper trendline resistance. Plan: Watch for a clean confirmation on the 4H close above the immediate RSI downtrend before taking directional bias to the upside. What are your targets for semiconductors into the week? Let us know in the comments below!