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Technical analysis is a tool or method, that is applied to stocks, indices, commodities, currencies, etc. It helps to predict the market, the future price of the stock. Through technical analysis, one can prepare a market report. This is used to predict the probable future price movement of security – such as a stock or currency pair – based on market data. It is actually a broad concept.

Technical analysis believes that past patterns tend to repeat themselves in the future too since patterns are created by market psychology and that tends to remain constant over a period of time. Hence, one only needs to focus on these patterns.

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