My last technical analysis piece was written just as equity markets started to rally after the December lows. I always find it a useful exercise to go back and read what I wrote with the benefit of hindsight. Technical analysis is not a crystal ball but instead gives you a range of possible outcomes and levels to watch. In volatile market conditions, such as those we are experiencing now, technical analysis tends to prove particularly useful and traders and professional investors start to pay greater attention to it. As such, now represents an opportune time to look at what the technical charts are telling us about where markets are likely to head next.
As ever with these pieces 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.
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