OT - this my take, aren't the lines (in a sense) an outcome of the fundamentals / sentiment, i.e support / resistance - key points because 'people' need to see/perceive fundamental changes for these to be crossed.
it's like the whole cart and horse:
cart is fundamentals, horse is TA (or maybe it's the other way around). but there is value in them. ultimately if we cold predict fundamentals we probably wouldn't need TA, but we can't so TA is a bit of leading indicator to fundamental moves.
