Technical Analysis: LFEX Norway Exporters Salmon Index, 21st February 2025

David Nye - The London Fish Exchange

Published: 24th February 2025

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

  

The Oslo FoB Index rallied 1.21% during this week of trading to end the week at 92.10 NOK. The Oslo FoB Index has spent the month of February trending sideways.

I have not had to make many changes to the horizontal support and resistance lines in recent weeks because of the lack of price movement. The Oslo FoB Index is currently testing the underside of the 91.75 NOK resistance zone. The Oslo FoB Index has been respecting the green upward sloping trendline.

The Composite Index has been diverging with the Oslo FoB Index during the last few days of trading. The Composite Index has not made a higher high vs the Oslo FoB Index or the RSI. The Oslo FoB Index and the RSI have made recent higher highs. This issue can easily be resolved if the Composite Index continues its ascent. The Composite Index is also continuing to respect the steep upward sloping green trendline. The moving averages have recently turned to a positive displacement.

The RSI is also continuing to move to higher displacements. The RSI is testing the underside of its slow-moving average. The spread between the moving averages is continuing to diverge. Usually, when the moving averages crossover to positive, it’s a bullish price signal for the advancement of the Oslo FoB Index during bull markets. You can look at the available data within the chart and judge for yourself.

In summary, the Oslo FoB Index is displaying bullish and bearish signals. The bullish signals have the advantage currently in my humble opinion. The pink trendline has been a decent price high predictor within the available history of the data. It’s possible the price high in December 2024 was the seasonal price high. If it wasn’t, the price range between the current price and the pink trendline, in my opinion, is significant.

  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