Technical Analysis: LFEX Norway Exporters Salmon Index, 11th March 2022

David Nye - The London Fish Exchange

Published: 14th March 2022

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

  

Olso FoB prices are at a support zone at NOK 82.32. I’m seeing some divergence in the indicators meaning that the price low could be in at 83.32.

The oscillators have reset to the lower end of their displacements and are diverging, the green lines in the two lower panes on the far right. If you look back from right to left at the middle and bottom pane indicators, you can see that prices have reacted in the past at these displacements. Think of it as more of zone vs a razor thin fine line.

Prices can keep going lower, next target would be the green (4) area around 77.50. There are several horizontal green lines on the chart. The dotted green lines are support drawn from one technique. The solid green lines are drawn from a different technique. Where both techniques come together is usually very strong support. You see this type of support at 82.32, 77.50 and 75.30 areas on the chart.

  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

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