Of course traders are always trying to glean info from market data, but in this industry it's more like poker than head and shoulders, wave count, shit like that. Just my 2c.
though i would never try to guess the direction of crude, gas and power are a different story. there is a wealth of data in these markets that lends itself to rigorous economic analysis. there are opportunities here if you are willing to take some pain and go through a rather arduous learning...