Technical Analysis: LFEX Norway Exporters Salmon Index, 1st August 2025

David Nye - The London Fish Exchange

Published: 4th August 2025

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

  

The Oslo FoB Index rallied 2.17% this week to finish the week at 55.64 NOK. The Index appears to have held the 53.92 NOK horizonal support line.

The Index is now testing the dark blue downward sloping trendline that connects two prior price lows. This trendline could offer resistance. The green, light blue, red and brown trendlines are between the current price and 66 NOK. There is a confluence of resistance at the 56.55 NOK and 60.94 NOK horizontal resistance lines. I only needed to make a few modifications to update the chart this week because of the modest price movement.

The Composite Index continued to move to higher displacements throughout the week. It is now at a displacement that has little history of making turns. I’m not seeing any obvious divergence between the Composite Index and the RSI. However, both the Composite Index and the RSI are showing a bearish divergence signal vs the Oslo FoB Index.

The RSI has rallied to a displacement it has used many times recently as support and once as resistance. Making this displacement area more challenging to overcome for the RSI. The green slow-moving average is also just above the RSI’s current displacement. The RSI does have room to move higher and stay within a bearish displacement range.

In summary, the Oslo FoB Index appears to be bouncing off the 53.92 NOK horizontal support zone. The Oslo FoB Index has experienced rapid sell off the during the second half of July. The Oslo FoB Index can rally to relieve its current oversold status but there are strong horizontal resistance zones and several diagonal trendlines above the current price offering resistance. The good news for the bulls is I’m not seeing any bearish divergence between the indicators. However, both indicators are diverging with the Oslo FoB Index which can be a bearish setup.

  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