Technical Analysis: LFEX Norway Exporters Salmon Index, 28th October 2022

David Nye - The London Fish Exchange

Published: 31st October 2022

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


The Oslo FoB Index prices have had a mild pull back in the last week. Prices appear to be heading to test the green upsloping trendline and the red price moving average.

The Composite Index is showing divergence with price and the RSI in the last several weeks. Prices and RSI are making a lower low vs the Composite Index is making a higher low. The spread on the Composite Index moving averages is negative. The RSI moving averages are getting closer together. A much different look than the Miami FoB Index. The Composite Index is testing a purple support line. The RSI broke through its slow-moving average and is now testing the moving average from underneath.

Both indicators have history at their current displacements. I drew in doted horizontal lines for you to go back and look to see what has happened in the past at these displacements. It’s still possible this rally in the Oslo FoB Index is a rally in a bear market. The next week or two should be telling for the future trend of the Oslo FoB Index prices.

  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.


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