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Technical Analysis is an age-old technique used for analysing financial market data by using price and volume charts and other technical indicators for making trading decisions. In this technique the analysts attempt to study historical market data using both behavioural economics and quantitative analysis techniques to predict future market behaviour. There are two major types of technical analysis techniques, namely, Chart patterns and Technical indicators. The Chart patterns may often be subjective form of analysis where the qualified technicians try to identify areas of support and resistance on a chart based on their observation of specific patterns. However, Technical indicators are used by researchers to identify specific trends based on the analysis of quantitative techniques such as moving averages.