it depends what you look at and depends from what point you look at it. true technical analysis as the brokers try to promote them with indicators, fibonaccis, oscilators etc. etc. ... it simply DOES NOT WORK. Technical analysis how we here on BP call it,with finding support and resistance levels.... well it partially does work, but not because it is a technical analysis but simply because it tells you in another way what you are seeing on the screen.