On the 'death' of technical analysis in commodities
Been seeing a lot of chatter lately, especially with the wild swings in energy and agricultural commodities, that classic technical analysis is dead or at least far less relevant than pure fundamentals for these markets. The argument often boils down to: macro events like geopolitical tensions or supply chain disruptions create such outsized, news-driven moves that indicators or even basic price action patterns are completely overwhelmed. While I agree that fundamentals drive the long-term direction in commodities more acutely than, say, $RBLX at 36.67 (which is more sentiment-driven), I think dismissing technicals entirely is a mistake. Even in volatile markets, levels still matter, order flow still leaves traces, and human psychology still forms patterns on a chart. It's not about predicting the next war, but about managing risk around observable price behavior. Am I off base here? Would genuinely like to hear some pushback.
That's an interesting point. I'm relatively new to commodities, and I've been trying to wrap my head around how much weight to give technicals versus the constant stream of news. Are there specific indicators or patterns you've found hold up better or worse in such a news-driven environment?