Technical Analysis update for May 2023

8 min Read Published: 03 May 2023

As regular 80-20 Investor members know, periodically I like to look at what technical analysis suggests about where key markets might be headed next. It's been 7 months since I last wrote a technical analysis piece. Therefore it's an opportune time to take a look at how key markets have fared so far in 2023 and where they may head next.

Remember, technical analysis is not a crystal ball but instead gives you a range of possible outcomes and levels to watch. In volatile market conditions, technical analysis tends to prove particularly useful and traders and professional investors start to pay greater attention to it.

As ever, I like to recap what technical analysis is and how it works. I always advise investors not to try and time the market because they will never get it right. However, there's nothing wrong with trying to determine a range of possible future outcomes within investment markets.

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