Technical Analysis: LFEX DataSalmon Miami FoB ‘D’Trim Index, 2nd September 2022

David Nye - The London Fish Exchange

Published: 5th September 2022

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

  


Miami FoB prices have broken above the red down sloping trend line and the price is just under the black price moving average. It’s a bit early to say it’s a clear break above the red down sloping trend line.

There is a red dashed horizontal resistance line near the current price. The Composite Index has rallied slightly above of its fast-moving average. The Composite Index has some history at this displacement, see the dashed line and take note of what has happened at this displacement in the past to give clues as what might happen now. The Composite Index has been diverging with price and with the RSI indicator over the last two months.

Can prices continue to move above the red down sloping trend line or will the brown upsloping trend line be broken? The answers to these questions will give early clues as to the future trend in prices. The Miami FoB chart looks different this week. I zoomed in so you can more easily see the price and indicator action.

  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