Technical Analysis: LFEX Norway Exporters Salmon Index, 22nd May 2026

David Nye - The London Fish Exchange

Published: 26th May 2026

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

  

The Oslo FoB Index rallied 2.34% during this week of trading to end the week at 74.69 NOK. The Oslo FoB Index broke below the 72.89 NOK horizontal support zone and bounced off the blue upsloping trendline that originates at the seasonal price low in 2025.

This is the first time the blue diagonal line has been respected by the Oslo FoB Index’s price. It will be interesting to see if the Oslo FoB Index can make a higher price high vs the price highs near 76.13 NOK reached in early May 2026. I didn’t make any changes to the price chart. None were needed.

I added back the trendlines on the Composite Index and the RSI for this week’s update. The dark blue downward sloping trendline and the green upward sloping trendlines are intersecting in the very near future. This is an early sign that there is a change or acceleration of trend coming in the Oslo FoB Index. There is a bearish signal forming in the Composite Index. Look at the Composite Index’s displacement and the price of the Oslo FoB Index on May 12, 2026. The Composite Index is currently at a higher displacement high while the Oslo FoB Index is at a lower price. The Composite Index is more oversold at lower Oslo FoB Index prices. I’ve written up this setup many times in previous updates. This is not a bullish setup for the Composite Index. The Composite Index has used this displacement for support and resistance.

The RSI is testing the underside of its slow-moving average, and it is also testing the underside of the red and black dotted trendlines crossing. I would think that testing the underside of several of these trendlines or moving averages would be more challenging to overcome than testing one trendline or moving average standing alone. Two trendlines and a moving average will make this displacement more challenging to break through. The red and black dotted trendlines intersecting is displaying the same change or acceleration of trend for the Oslo FoB Index as the Composite Index. The RSI has used its current displacement for support and resistance within the available history of data.

In summary, the Oslo FoB Index isn’t testing a horizontal red resistance zone while the Composite Index and the RSI are displaying a bearish setup forming. It would be much more concerning if the Oslo FoB Index was testing a resistance zone while having this setup in the indicators. There is also a setup in the indicators suggesting there could be a change or acceleration in prices coming for the Oslo FoB Index in the very near future. It will be interesting to see over the next week or two if the Oslo FoB Index has the strength to keep the rally going or continue on its current trajectory to lower prices.

  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