Technical Analysis: LFEX Norway Exporters Salmon Index, 16th September 2022

David Nye - The London Fish Exchange

Published: 20th September 2022

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

  

The Oslo FoB prices have also basically gone sideways during the past week. Prices are above the grey up sloping trendline and right on top of the brown down sloping trendline.

I zoomed in to take a very close look and Oslo Prices broke through the brown downtrend line and are now riding the downtrend line down like a slide. These trend lines should be drawn with a thicker line. It’s a tossup if prices have really broken through the brown down sloping trendline. Look what’s happened to the Composite Index in the last week. It’s pulled back from it’s high with very little price movement and is now testing its slower moving average and the two green trendlines.

The RSI is also testing its fast-moving average. These are strong areas of support for these indicators. I’d expect to see some type of reaction to push the indicators back up from these displacements. If the indicators look like they want to rally, prices should follow. If price breaks the grey up sloping trendline, I will need to reconsider my current opinion.

  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