Technical Analysis: LFEX Norway Exporters Salmon Index, 23rd October 2026

David Nye - The London Fish Exchange

Published: 26th October 2026

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

  

The Oslo FoB Index fell 1.10% during this week of trading to end the week at 71.90 NOK. The Oslo FoB Index continues to make modestly higher price highs and higher price lows.

This is another week of little price movement for the Oslo FoB Index. I did not need to make many adjustments to the chart’s technical work. I removed the 71.14 NOK horizontal resistance line. I spent some looking for a horizontal support zone between 71.90 NOK and the 69.06 NOK and didn’t find anything obvious except for the green diagonal trendline. The green diagonal trendline that originates from the June 2026 price lows has been respected by the Oslo FoB Index, meaning the Oslo FoB Index could use the green trendline again.

The Composite Index displacement is falling while the Oslo FoB Index is trending sideways. This is usually a bullish development. The Composite Index is resetting lower to fuel another move to higher displacements. There is another bearish divergence signal that developed in the Composite Index vs the Oslo FoB Index during this week of trading. The Oslo FoB Index made a higher price high while the Composite Index made a lower displacement high. I drew in a blue dotted trendline to display this divergence. The red dashed trendline that was introduced in last week’s update slightly missed the most recent displacement high in the Composite Index. I drew in the blue dotted trendline to display this divergence.

The RSI is also displaying a bearish divergence signal vs the Oslo FoB Index. I used another blue dotted trendline on the RSI to display this divergence signal. The RSI displacement is also resetting lower while the Oslo FoB Index trends sideways. Like the Composite Index, this implies the RSI could be resetting lower for another run to higher displacements while the Oslo FoB Index trends sideway. The solid and dotted black trendlines intersect with each other around Wednesday, October 28th, plus or minus a day or two. These intersections have been early clues that there is a acceleration or change in trend coming for the Oslo FoB Index.

In summary, the Oslo FoB Index is displaying a bearish divergence signal. This implies the Oslo FoB Index may need more time to digest its gains and prepare for another move to higher prices for the Oslo FoB Index. The green diagonal trendline may offer support for the Oslo FoB Index. The 69.01 NOK is the next logical support zone for the Oslo FoB Index if the green trendline does not hold.

  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