Technical Analysis: LFEX Norway Exporters Salmon Index, 24th October 2025

David Nye - The London Fish Exchange

Published: 27th October 2025

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

  

The Oslo FoB Index rallied 5.75% to end the week at 79.46 NOK. The Oslo FoB Index has rallied this week and is now testing or breaking through the 79.15 NOK resistance zone.

The Oslo FoB Index continues to make higher price highs and higher price lows. I don’t want to bore you but the previous statement, but it is the definition of an uptrend. I made some modest updates to the horizontal support and resistance zones to include this week’s price history. The 82.35 NOK horizontal resistance zone is nearby along with the upper red dashed trendline that could also offer additional price resistance when tested. I would think that the 82.35 resistance zone is a stronger resistance zone than the 79.15 NOK resistance zone. Why? The 79.15 NOK zone is standing alone. The 82.35 NOK resistance zone has the upper red dashed trendline and the horizontal resistance zone. The Oslo used the 82.35 price area for support or resistance in June 2025, December of 2024 and June 2024, etc.

The Composite Index has rallied to a historically high displacement level and will need to pull back. The Composite Index does currently have the fishhook look. The Composite appears to be rolling over to test the positive crossover of it’s moving averages. During bull markets, this is a very bullish setup. The idea is to let the Composite Index test the moving averages and when it turns back up, a strong rally should follow. We’ll see in the coming months. The reason I leave many of “older” trendlines on the Composite Index was shown during this week of trading. The Composite Index rallied up to the underside of the grey trendline and rolled over. There are several trendlines below the Composite Index that could also offer support. It will be interesting to see what the Oslo FoB Index does while the brown, green and black trendlines intersect over the three weeks of trading. I do see bearish divergence between the Oslo FoB Index and the RSI, meaning the strength of the current move is losing momentum.

The RSI bounced and is operating within a bullish displacement range. The RSI has made displacement highs at its current displacement within the available history but still has room to move higher. The green trendline above the RSI is a possible target for the RSI.

In summary, the Oslo FoB Index is making higher price highs and higher price lows. This trend should continue until the season price highs are reached. The Oslo FoB Index has plenty of room to move up in price but that doesn’t mean it will go in a straight line up or down. The current move up is losing momentum via the bearish divergence in the Composite Index, but prices can continue to rally. The good news for the people who want higher Oslo FoB Index prices is the Composite Index is rolling over to test the positive crossover of it’s moving averages. It might be enlightening for you to go back and look through the chart data and see what’s happened in the past during bull markets during this type of setup. History does repeat itself.

  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