good technical levels combined with macroeconomic knowledge can give you a good idea when market sentiment will change.

all of these points I have circled are moments that had huge macroeconomic catalysts happen. either it was the FED starting quantitative tightening or mentioning quantitative tightening. or they were moments where the Fed mentioned or started quantitative easing. and one of the circles was a pandemic crash. right now, in the fifth circle, the price is currently near this long-term resistance. and I think the news catalyst that will turn the dollar Index back to the downside will be from Japan and Europe. Europe has already started quantitative tightening which is affecting the dollar Index. once Japan it starts tightening instead of all the stimulus they are providing then the dollar Index will drop more. that is my prediction unless there is another major event that crashes the market as well as the dollar.
basically when using long-term technical levels you can see major news or macroeconomic catalyst happen near long-term supports and resistances. this can help with timing when entering into or exiting long-term investments. this will not work for every chart and every ticker symbol. but when it does you can have a little more confidence when making trades.
$SPDR S&P 500 ETF(SPY.US)$ $SPDR Dow Jones Industrial Average Trust(DIA.US)$ $Invesco QQQ Trust(QQQ.US)$ $SPDR Gold ETF(GLD.US)$ $VIX Index Futures(MAY4)(VXmain.US)$ $Crude Oil Futures(JUN4)(CLmain.US)$ $Hang Seng Index(800000.HK)$ $SSE Composite Index(000001.SH)$ $CSI 300 Index(000300.SH)$ $FTSE Singapore Straits Time Index(.STI.SG)$ $S&P/ASX 200(.XJO.AU)$