Technical Analysis: LFEX Norway Exporters Salmon Index, 6th January 2023

David Nye - The London Fish Exchange

Published: 9th January 2023

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


The Oslo FoB Index rally continues. The Index is approaching the black and red trendlines drawn on the Index price.

I re-calculated the horizontal price resistance levels with the new available data. There is horizontal resistance at 96.35 NOK and the next higher resistance zone is at 101.34 NOK. The red and black trend lines also converge in the same 101.34 NOK area. The red trend line has proved to be the upper end of the price channel since the summer of 2022. The Composite Index has been diverging with price since December 22, 2022, represented by a green trend line on the chart.

It’s important to notice the moving averages on the Composite Index now have a positive displacement and it appears the Composite Index is going down to test the crossover. The RSI is diverging with the Composite Index represented by a small green trend line. The RSI moving averages also have a positive displacement. If you look back to October of 2022, the RSI is at the same displacement and rolled over with a corresponding move down in Oslo FoB Index.

  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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