I am new to commodities and was wondering whether technical analysis is enough for commodity trading or not? If not, what are the other factors I need to consider while trading in commodities?
For example:- If I want to trade in CRUDEOILM and my technical setup is giving me a long/short signal, should I lookup to any other data (for example, a currency pair like CAD/USD having strong correlation with oil) for confirmation? Or is just technical analysis of CRUDEOILM enough?
For example:- If I want to trade in CRUDEOILM and my technical setup is giving me a long/short signal, should I lookup to any other data (for example, a currency pair like CAD/USD having strong correlation with oil) for confirmation? Or is just technical analysis of CRUDEOILM enough?
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