The principles of Technical Analysis are derived from hundreds of years ago when people started studying commodity prices.
Technical Analysis is a study in price patterns, that can be used to forecast the future direction of prices through the study of past market data. Technical analysis stands in distinction to Fundamental Analysis. Technical analysis "ignores" the actual market nature and is based solely on "the charts," that is to say price and volume information. Technical analysis is widely used among traders and financial professionals to forecast stock, forex and commodity prices.