Technical Analysis: LFEX Norway Exporters Salmon Index, 7th November 2025

David Nye - The London Fish Exchange

Published: 10th November 2025

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

  

The Oslo FoB Index fell .4% during this week of trading to end the week at 77.10 NOK. I did make some modest changes to the Oslo FoB Index price chart this week.

I moved the lower red dashed upward sloping trendline to catch the price lows on October 9, 2025. I then changed the upper red dashed trendline to have the same slope as the lower trendline to see how these trendlines work on the existing data. I prefer to use the three upward sloping black trendlines originating at the July 2025 price low for many reasons that are too involved to explore in this report. The Oslo FoB Index has been digesting its recent gains going sideways in price as the indicators are resetting lower. I’ve mentioned this issue several times over the years in these updates. This is bullish behaviour.

The Composite Index displacement has moved from the upper end of its historical displacement range and is approaching the lower end of its historical displacement range. This is happening while the Oslo FoB Index swims sideways in price. The Composite Index does not have a lot of history of making changes at its current displacement. The green upward sloping trendline is a possible support area. Notice all the trendlines crossing each other in the Composite Index pane. These crossings are bunched very close together, meaning it might be all the same signal. There should be an increase in price volatility in the upcoming two weeks. Long term readers of these updates will remember that when these trendlines cross, it’s signals an acceleration or change in trend. The change does not have to be major change. The brown, green and black trendlines all cross each other in the next week and a half. The green and black trendlines crossed each other on November 6, 2025, marking the displacement high on the Composite Index.

The RSI is also coming down from its recent displacement highs and appears to be resetting lower to fuel another move up. The RSI does have some history of making displacement highs near is current location making this displacement area a possible support zone.

In summary, this has been another quiet week of trading for the Oslo FoB Index. Based on trendlines starting to cross on the Composite Index, I’m expecting the price volatility to increase in the next week or two. If this was a liquid tradable asset, I would be backing up the truck to buy as much of this Index as I could. From a trader’s point of view, based on past available history, the upside seasonal price high target is up somewhere near the pink trendline on the price chart. The downside risk is up to each person, pick a green horizontal price zone that each person can tolerate and put on a trade. I see 2 NOK to 7 NOK of price risk with an upside target of 60 NOK to 70 NOK. As a trading setup, it’s doesn’t get much better. We’ll see how this plays out in the coming months.

  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