Technical Analysis: LFEX Norway Exporters Salmon Index, 17th July 2026

David Nye - The London Fish Exchange

Published: 20th July 2026

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

  

The Oslo FoB Index rallied 1.71% to end the week at 67.64 NOK. The Oslo FoB Index broke above the 66.50 NOK, no longer on the price chart.

The Oslo FoB Index has been trading underneath this trendline for a month. I did update the support and resistance zones using the most recent price lows to update the current view.

The Oslo FoB Index is currently sitting on top of a support zone. This is the same support zone the market used in 2024 for the seasonal price low. This price was also used by the market for a small rebound rally from June 8, 2026, meaning the market can use this price area for price support again. During the last three weeks of trading the Oslo FoB Index has been making higher price lows and higher price highs. I drew in a green upward sloping trendline that originates at the recent price lows and Oslo FoB Index has been following this trendline up for three weeks. If/when the Oslo FoB Index breaks below this trendline, it will be another sign the move up in price is losing momentum.

The Composite Index continues its climb to higher displacements. The Composite Index is very close to testing the underside of the purple and green trendlines that intersected near July 10, 2026. Both trendlines have been respected by the Oslo FoB Index in the past and should provide resistance when tested from below. The Composite Index has the same look as it did last Friday, the fishhook look, like it’s about ready to roll over the mountain and go to lower displacements. The Composite Index turned higher when the purple and green trendlines intersected. The Composite Index is near the higher end of its historical displacement range during bear markets and at the same time, it can keep moving higher. However, at some point in time, the Composite Index will need to reset to lower displacement levels. The Composite Index has used this displacement for support and resistance in 2026. I added pink dashed trendlines to the RSI and the Composite Index panes this week that highlight the bullish divergence between June 25th and 29th. This trendline intersects the green and pink trendlines all near the same date, July 16th.

The RSI tested the underside of the light blue trendline and appears to have been turned away by this trendline. The black dotted trendline could offer additional support for the RSI when tested. The new pink dashed trendline intersects the black dotted trendline July 17th. There is a very high probability that both the RSI and the Composite are displaying the same timing signals. My trendlines drawn on the chart may not be perfect, thus the discrepancy of a day or two between signals. The pink dashed trendline also intersects the light blue trendline around July 23, 2026, and the red downward sloping trendline near July 29th. These are dates to watch for a change or acceleration in the price trend. It will be very interesting to see what displacement the RSI uses for the next displacement low. Will the RSI pull back continue to operate within a bearish displacement range or start to respect the bullish displacement range.

In summary, the Oslo FoB Index has been in low momentum price uptrend for several weeks. The price gains have not been extraordinary, but they are price gains. The indicators are starting to test the higher end of their displacement ranges for bear markets. Both indicators will need to reset to fuel another price rally at some point. There is a timing signal near July 17th, so I would be on the watch to see how the Oslo FoB Index acts the next few days to see there is an acceleration or change in the price trend.

  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