Technical Analysis: LFEX Norway Exporters Salmon Index, 16th January 2026

David Nye - The London Fish Exchange

Published: 19th January 2026

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

  

The Oslo FoB Index fell 1.03% during this week of trading to end the week at 81.44 NOK. This whole week of trading has been testing the 81.72 horizontal support zone.

The price of the Oslo FoB Index didn’t move much during the week and this is the reason I did not make any changes or adjustments to the price chart. There isn’t much of an edge I can provide vs last week’s report because of the small movement in the security in the price chart.

The Composite Index has moved to higher displacement vs last week. I could argue that there is bearish divergence in the Composite Index from last Tuesday’s displacement and today’s Composite Index displacement. The Composite Index was at a lower displacement last Tuesday vs today and today’s Oslo FoB Index price is below last Tuesday’s closing price. The Composite Index is more overbought at lower prices. This is bearish activity. At this time, I wouldn’t assign a high probability to this observation, but it is there. The Composite Index is testing the underside of its fast-moving average which can provide resistance. The Composite Index does have some history of making displacement changes near its current displacement. I’ve mentioned this many times in the last five years, when trendlines made from divergence signals cross, there is an acceleration or change in trend in the security. The red and black trendlines cross on Friday January 16, 2026, plus or minus a day or two. The green and purple trendlines cross around Wednesday January 21, 2026, plus or minus a day or two. This implies we should see some pick up in price movement in the coming week.

The RSI continues to test the lower end of its bullish displacement range for this security. If the Oslo FoB Index seasonal price highs are not in, the RSI should move to higher displacements at some point in time without moving much lower. If the RSI continues to move to lower displacements, it’s a sign the seasonal price highs are in for the Oslo FoB Index. The RSI has used its current displacement for support and resistance within the history of the available data, meaning it can and will use this displacement again for support and resistance.

In summary, the Oslo FoB Index had a quiet week of trading in price. I’m still thinking there is a decent chance that the Oslo FoB Index season price highs have yet to be seen. However, there has been some recent issues that have arisen that bring up some doubt into this bullish view. The Oslo FoB Index continues to hold support near the 81.72 NOK horizontal support zone, and the RSI continues to hold onto its bullish displacement range. This is bullish activity. It will be very interesting to see the displacement the RSI uses for a final bottom and at what displacement it uses for its next resistance level. This will give us insight into the bullish or bearish status of the Oslo FoB Index.

  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