Technical Analysis: LFEX DataSalmon Miami FoB ‘D’Trim Index, 14th April 2023

David Nye - The London Fish Exchange

Published: 17th April 2023

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


The Miami FoB Index continues to move down at a moderate pace. The $6.39 and gold upsloping trendline appear to be the likely targets below the current price.

The Composite Index is continuing its move lower. The Composite Index is below its prior low and Oslo FoB Index is at a higher price. Look where the blue trendline starts and ends on the Composite Index. This means the Composite Index is more oversold at higher prices. This is bullish action. The Composite Index is near the lower end of its historical displacement and has history at its current displacement. There is a grey upsloping trendline and a green downward sloping trendline on the Composite Index that will cross around the first week of May 2023. This crossover usually means a change or acceleration in trend. The first thing I see looking at the RSI is the divergence with the Composite Index, the thicker blue trendlines on each indicator.

This is a sign the move down is losing momentum. The RSI also has history at this displacement. I’m seeing some buying signals in the Miami FoB Index but I’d prefer to wait until the price hits and respects a support zone. I’d expect to see some kind of bounce develop in the Composite based on its current vs historical displacements. The Composite Index can continue lower but it’s just a matter of time before the Composite Index will need to reset higher.

I included an additional chart this week for your review. I’ve spent some time trying to examine if the Miami FoB Index and the Oslo FoB Index are correlated to each other and if one market leads the other. It certainly looks like the two markets are correlated. Both Index’s trend in the same direction. The bar chart is the Oslo FoB Index and the brown line is the Miami FoB Index on the chart. Which market leads the other appears to change. It looks like the Oslo FoB Index is leading currently. If history repeat itself, I’d expect the Miami FoB Index to start to move back up in price.

  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.


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