Category Archives: Technical Analysis

The Oslo FoB Index rallied 1.46% during this week of trading to Friday.

The Oslo FoB Index rallied 5.53% to 83.40 NOK during this week of trading. The Oslo FoB Index continues to make higher price highs and higher price lows.

The Oslo FoB Index spent the last several weeks in a tight trading range between 76 NOK and 80 NOK. The Oslo FoB Index closed at 79.03 NOK today and as seen in the chart, the Oslo FoB Index broke above the red down sloping trendline.

The Oslo FoB Index fell 2.53% in the last week of trading. The Oslo FoB Index tested and was rejected by its price moving averages just below the horizontal resistance zone at 81.16 NOK.

The Oslo FoB Index rallied 2.77% in the last week of trading. The Oslo FoB Index is holding above the price moving average in the mid 70’s NOK. The next area of resistance is the 81.16 NOK price. There are several moving averages bunched together near 81.16 NOK which should bring additional resistance for the Oslo FoB Index.

It’s been two weeks since my last update. The Oslo FoB Index has fallen 12.72% during this time. The decline in the Oslo FoB Index should not have been a big surprise with the bearish divergence in the Composite Index from the prior update.

The Oslo FoB Index rallied 7.9% during this week of trading. The Oslo FoB Index didn’t even notice the horizontal resistance zone at 86.01 NOK.

The Oslo FoB Index traded down a modest 1.66% this week. The 82.31 NOK horizontal resistance zone has shown itself to be a stronger resistance zone along with the price moving very close to the same price.

The Oslo FoB Index finished the week at 82.68 NOK up 3.32% for the week. The Oslo FoB Index appears to be moving above the 82.31 horizontal resistance zone and the price moving average.

The Oslo FoB Index ended this week of trading at 80.02 NOK. The next horizontal resistance zone is at 82.31 NOK and there is also a price moving average near the 82.31 NOK price area to offer additional resistance.