Technical Analysis: LFEX Norway Exporters Salmon Index, 31st October 2025

David Nye - The London Fish Exchange

Published: 3rd November 2025

This Article was Written by: David Nye - The London Fish Exchange

  

The Oslo Fob Index fell 2.57% during this week of trading to end the week at 77.42 NOK. I didn’t make any changes to the price chart during this week of trading.

The Oslo FoB Index reacted to the 79.15 NOK horizontal resistance zone and has pulled back to the red dashed upward sloping trendline. The 76.14 NOK horizontal support zone is also nearby along with the purple trendline that connects the 2021, 2022 and 2024 seasonal price lows.

The first thing I noticed on the chart was how far the Composite Index has fallen from last Friday’s high displacement while the Oslo FoB Index only fell 2.57%. This is bullish action. The Composite Index is close to testing its displacement low from July. The displacement low in July started a large price advance in the Oslo FoB Index. It’s certainly possible the Composite Index can keep going to lower displacements. Likely targets would be the purple or green trendlines. There are several trendlines on the Composite Index pane that will cross in the coming weeks. We’ve learned that these intersections signal price acceleration or price change.

The RSI has also pulled back from last Friday’s displacement. The RSI should stop it’s retreat before the 40 (ish) displacement. The RSI has broken below its fast- and slow-moving averages. The slow-moving average still has a chance to catch the RSI, but the RSI needs to move up quickly if the moving averages are doing to stop the decline in the RSI. It can be argued that both indicators are testing their positive moving averages while making higher price highs and lows. This is very a bullish setup.

In summary, the Oslo FoB Index appears to be resting or resetting for another move to higher prices. The indicators are displaying the same story. There are several things pointing to some price changes coming in the coming weeks. Based on the available history, it appears the Oslo Index is in rally mode but as suggested in last week’s update, nothing goes straight up or down. This week’s report is brief, but the message is the same as the reports since the end of July. If we were trading the Oslo FoB Index, this is the time to buy the price pull backs.

  About This Analysis

About David Nye

David is a Senior Vice President in investment advisory with over 30 years of experience.

Based in Minnesota, USA he has a long history in technical analysis across a range of markets. David brings his experience to provide an independent insight into potential salmon pricing based on LFEX and DataSalmon data.

What is Technical Analysis?

Technical Analysis is used to try and identify price trends in the future. Analysts believe that by using factual past information (trading activity and price changes) it is possible to identify future price movement trends and is quite prevalent in commodity and forex markets but can be applied to any product.

Technical Analysis has been developing for over a century, and there are now hundreds of patterns and signals that have been created. They are often used in conjunction with other forms of research and analysis to help formulate, or support pricing trend opinions.

Purpose of the Analysis?

To provide an independent data-driven view of market pricing trends in the short and medium-term. As a potential tool, for users to access future pricing trends based on LFEX/DataSalmon derived market data.

How Does it Work?

On a regular basis (weekly), David will provide his independent analysis of LFEX and DataSalmon pricing data. The output will be to provide pricing trends based on the most up to date pricing received.

The analysis will show the expected trends and potential (price) levels, as well as other markers – for example, higher or lower price triggers that would affect the analysis of the trend – and what this might mean. It is data-driven, and will not, and does not, account for any other fundamental analysis, or weather or biological events for example. This is the same for any commodity product technical analysis.

Disclaimer

All information provided contains no guarantee whatsoever, especially of completeness, accuracy, timeliness or of the results obtained from the use of this information, and is provided without warranty of any kind, expressly or implied. In no event will, LFEX Ltd or DataSalmon, its member firms, or the partners, directors, officers, owners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information or for any consequential, special or similar damages, even if advised of the possibility of such damages. In no event and under no legal or equitable theory, whether in tort, contract, strict liability or otherwise, shall LFEX Ltd or DataSalmon be liable for any direct, indirect, special, incidental or consequential damages arising out of any use of the information contained herein, including, without limitation, damages for lost profits, loss of goodwill, loss of data, work stoppage, the accuracy of results, or computer failure or malfunction