Technical Analysis: LFEX DataSalmon Miami FoB ‘D’Trim Index, 5th May 2023

David Nye - The London Fish Exchange

Published: 9th May 2023

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

  

The Miami FoB Index fell $0.25 this during the last week. The Miami FoB Index appears to be heading to the $6.03 horizontal price support zone.

The gold upsloping trendline should offer additional support near the same price. There is a price moving average offering price support at the current Index price.

The Composite Index continues its move lower. The Composite Index has only been at this low of a displacement five previous times in the history of the available data. Four of the previous five displacement lows was not the final bottom for the Miami FoB Index. The moving averages on the Composite Index and the RSI are converging rapidly to a negative displacement.

The RSI has history at its current displacement. The RSI’s current displacement has been used for support and resistance during the last two years. There is divergence between the Composite Index and the RSI shown via the blue trendlines on each indicator. I relocated the grey and green trendlines on the Composite Index to their correct locations. The small change I made moved the crossover back a few weeks. Signaling the low the week of April 7th with a price of $6.60. I put a black vertical line through the indicator and price charts to help you see it. This is an example showing that these trendlines crossing over do change or accelerate the trend, but it doesn’t have to be a major top or bottom.

  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