#INDIA #YIELDS This chart is by far the best example for those who think:

Classical charting and technical analysis is only applicable for short-term timing & trading

On economic time series, fundamental factors are the driving force and technical analysis do not have a say

My take:

Technical analysis and classical charting is applicable to a wide range of instruments where price is decided by the interaction of humans as a result of their emotional decision making (fear & greed). 

It can be applied to short-term trading and also long-term investment/asset allocation decisions.

Classical charting is nothing more than looking for consolidations (which mostly end up as patterns) in order to capture the following trend periods. It is not a forecasting tool.