Technical Analysis: LFEX Norway Exporters Salmon Index, 11th September 2026

David Nye - The London Fish Exchange

Published: 14th September 2026

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

  

The Oslo FoB Index rallied 2.28% during this week of trading to end the week at 66.84 NOK. This is another week that went by without any necessary changes to the price chart. This is two weeks in a row with very little price movement.

The Oslo FoB Index traded slightly above the 67.04 NOK horizontal resistance zone for two days and now the price has pulled back. I’m leaving the red downward sloping trendlines on the price chart for another week. The upper downward sloping red trendline along with the 64.91 NOK horizontal support line can be used for price support for the Oslo FoB Index. If you’re in the boat that wants higher Oslo FoB Index prices, it would be nice to have the Oslo FoB Index make a higher price low than the price lows from late June 2026. The Oslo FoB Index has been making lower price lows and lower price highs since July 31, 2026.

The Composite Index has made a large move in it’s displacement vs the same corresponding move in the Oslo FoB Index. This is usually bearish action for the Composite Index. The Composite Index appears to be rolling over to go down and test the positive crossover of its moving averages. Long term readers of this update know that this can be an extremely bullish setup if the Oslo FoB Index is in an uptrend. The bearish view is the Composite Index displacement is higher than its previous displacement high on August 18, 2026. The Oslo FoB Index is currently at a lower price vs its August 18 Index price. The Composite Index is more oversold at lower prices. I put a brown trendline on the Composite Index pane to make it easier for the reader to see this divergence. This is a bearish setup. Having conflicting signals isn’t all that unusual. There have not been many updates I’ve written for the Oslo FoB Index where everything lined up in a bullish or bearish direction for the Oslo FoB Index. The Composite Index is more toward the upper end of its historical displacement range, meaning it may need some time to reset.

The RSI is making a lower displacement high vs its displacement on August 18th. The RSI and the Composite Index are displaying a bearish divergence signal. I put a brown downward sloping trendline to display this on the RSI pane. The RSI does have some history of making displacement changes at its current displacement. It is certainly possible the RSI is rolling down to test the upper side of its fast-moving average. The red downward sloping and black dotted upward sloping trendlines intersect near September 16, 2026. Meaning, we could see a change or acceleration of prices around this date.

In summary, there is bearish and a possible very bullish signal(s) displayed in the chart this week. The big question is, is the Oslo FoB Index in a price uptrend or downtrend? If the Oslo FoB Index is in an uptrend, we should be paying attention the setup in the Composite pulling back to test the positive crossover of its moving averages. If the Oslo FoB Index is still in a downtrend, the bearish divergence signal between the Composite Index and the RSI measures down to the lower 63 NOK price area. The next week or two of trading the Oslo FoB Index will be very interesting to watch to give us more clues about the status of the 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.

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