Technical Analysis: LFEX Norway Exporters Salmon Index, 20th March 2026

David Nye - The London Fish Exchange

Published: 23rd March 2026

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

  

The Oslo FoB Index fell 7.43% during this week of trading to end the week at 93.43 NOK. I made some modest adjustments to the dotted green and red horizontal support and resistance zones.

There is confluence of support at the 91.06 NOK and 86.29 NOK horizontal support zones. There is a diagonal line originating from last summer’s price low is just under the current price of the Oslo FoB Index. This diagonal trendline has not been perfect but the market has reacted to this trendline on 3 previous occasions, meaning it’s possible the market will use this trendline again for support and or resistance.

The Composite Index displacement has fallen a long way from its displacement when the Oslo FoB Index price was 99.15 NOK on March 6th relative to the move in the Oslo FoB Index price. This can be a bullish setup. The blue number 3 on the chart will help the reader see this price area. The Composite Index could be resetting for another run higher while the price goes sideways. I added a red dotted trendline that is displaying bullish divergence in the Composite Index. The Oslo FoB Index is at a higher price while the Composite Index is more oversold. To help the reader, look at where the blue 2 is on the price chart vs today’s closing price.

There are two different time targets displayed on the Composite Index pane showing early next week as time targets. This is seen by the light blue and green trendlines along with the green dotted and brown trendlines intersecting. The Composite Index does have some history of making displacement changes near its current displacement.

The RSI advanced stopped near the higher end of the RSI’s historical bearish displacement range. The RSI does have some history of making trend changes at its current displacement. It will be interesting to see what displacement the RSI uses for its next displacement low. Will it be in a bullish or bearish displacement range?

In summary, the Oslo FoB Index isn’t at a horizontal support zone. However, I’m seeing a possible bullish setup in the Composite Index along with two items showing the Oslo FoB Index has time targets for early next week. There is a third, non-correlated technique, also showing Monday March 23rd as a time target, plus or minus a day or two. I’ve mentioned these time targets in previous updates; these time targets do not have to be huge moves in price. The changes in pricing can be big or small. The technique is to observe the security around the price target to determine what the time target signaling, a price high, a price low or the middle of a move.

  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