Technical Analysis: LFEX Norway Exporters Salmon Index, 24th April 2026

David Nye - The London Fish Exchange

Published: 27th April 2026

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

  

The Oslo FoB Index rallied 7.16% during this week of trading to end the week at 79.74 NOK. The Oslo FoB Index has some room to move to higher prices if the previous trend of price swings between the 77.42 NOK and 98.66 NOK resumes.

I don’t think this is the most likely outcome currently but it’s possible. I did not make many changes to the price chart this week. I did add the 77.42 NOK horizontal support zone.

The Composite Index is displaying a very bearish signal currently. The recently added solid black trendline that connects the Composite Index’s two most recent displacement high and this is displaying this signal. The Oslo FoB Index is currently at a lower price while the Composite Index is at a higher displacement vs March 31, 2026. The Composite Index is more overbought at lower prices. This is a bearish setup. The Composite Index has also made turns near its current displacement. The light blue and green trendlines are crossing in the very near future on the Composite Index pane, meaning, there is likely a change or acceleration in trend coming.

The RSI is displaying a bearish divergence signal with the Composite Index. The black trendline on the Composite Index is sloping upward, while the black trendline on the RSI is sloping down. The RSI has also shown it has made displacement highs and lows near its current displacement. Meaning, it can use this area again for changes in the RSI trend. The RSI is operating in a bearish displacement range. The higher end of the Oslo FoB Index in a bear market is around the 66 to 70 displacement area. This does leave room for the RSI to continue to climb higher. The brown and dotted black trendlines are crossing soon or did cross on April 24, 2026.

In summary, the Oslo FoB Index price and indicators are resetting higher. It appears the indicators are resetting higher for another swing down to lower prices. The bearish signal mentioned earlier does have a lower probability price target of 60.95 NOK. A few weeks ago, I made mention that I made an educated guess that the 80.79 NOK was the middle of the move down for this price swing. I measured down for a possible price low on this current swing to 60.63 NOK. The price target for the bearish signal mentioned earlier in this update is 60.95 NOK. History suggests to not assign a high probability to this 60.95 NOK price target. However, when you get multiple techniques pointing at the same price, it would be wise to pay attention. There is also a horizontal support zone at 60.85 NOK. There is no time guidance with this signal, just a price target.

The Oslo FoB Index can continue to rally to higher prices. I am not trying paint the picture that the Oslo FoB Index can’t extend its current rally. However, this view has a much lower probability given the current setup in the chart. When I was asked to write these weekly updates five or six years ago, it was suggested to me to stay away from all the background information and just tell the reader what I see in the chart. This is exactly what I’ve tried to do.

  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