Technical Analysis: LFEX DataSalmon Miami FoB ‘D’Trim Index, 9th Decmber 2022

David Nye - The London Fish Exchange

Published: 12th December 2022

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

  

The Miami FoB Index price is consolidating in the $5.80 area. We’ve seen this type of action back in 2018 where prices were flat for 5 months.

The Miami FoB Index needs a catalyst to get prices moving one way or the other. You can see the resistance line above prices at $6.01 and the green horizontal support line at $5.72 on the chart. There are two price moving averages offering additional support in the $5.41 price area. The Composite Index is continuing to move lower and has broken below the tan upsloping trend line on the indicator. There is a grey downward sloping trend line on the indicator that could offer support for the indicator. These two trend lines were drawn from points that diverge with price offering additional strength in their signals. The Composite Index is diverging with price.

The Composite Index is at a higher displacement than its August lows while the Miami FoB Index is at a lower price vs its August lows. The RSI is also diverging with the Miami FoB Index and has been moving sideways for the last several weeks. Both indicators have some history at their current displacements. I’m trying to give you an edge on which way prices will move from here. There are times when we just need to wait for clearer signals, and we appear to be at one of those times currently.

  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