Technical Analysis: LFEX Norway Exporters Salmon Index, 28th November 2025

David Nye - The London Fish Exchange

Published: 1st December 2025

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

  

The Oslo FoB Index rallied 10.26% to finish the week at 88.69 NOK. The trend of higher price highs and higher price lows is continuing.

It will be interesting to see how the Oslo FoB Index reacts near the intersection of the red dashed upward sloping trendline, the red dotted horizontal resistance zone, and the solid red horizontal resistance zone near 96.00 NOK price area. The solid red horizontal resistance zone was derived from an independent method for looking for resistance. There are three unrelated methods of finding resistance at all pointing to the 96.00 NOK price area. I would think that this price resistance zone should be stronger than a resistance zone that stands alone.

The Composite Index is displaying bearish divergence with the Oslo FoB Index. The Oslo FoB Index has made a recent higher price high while the Composite Index is below its last displacement high. The Composite Index does have a modest history of making displacement trend changes near its current location. I drew in a purple downward sloping dotted trendline to display the bearish divergence for the reader. This bearish divergence can be easily resolved if the Oslo FoB Index price continues to move higher.

The RSI is also displaying bearish divergence with the Oslo FoB Index. For the same reasons, the Composite Index is displaying bearish divergence. I drew a purple dotted downward sloping trendline to display the bearish divergence. The RSI does have a history of making displacement highs near is current displacement. Similar to the Composite Index, the bearish divergence signal can be easily resolved if the Oslo FoB Index can continue to move to higher prices.

In summary, the Oslo FoB Index continues to display bullish characteristics. Within the available history of data, during the month of December, the Oslo FoB Index has finished the month at a higher price than at the beginning of the month. 2021 was the only year , within the available history, that didn’t have a significant price gain during the month of December.

  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