In trading the financial markets, technical analysis is a method for analyzing price action on a chart to forecast the probability of the future direction of the trend. Technical analysts use charts and the patterns of price data and volume to find key levels of support and resistance along with the path of least direction for buyers and sellers. Much of the behavior of market participants can be explained by behavioral economics and quantitative analysis which have a lot in common with technical analysis. There are two major schools of technical analysis, one tries to predict the future through current chart ... (full story)