Technical Analysis: LFEX Norway Exporters Salmon Index, 2nd October 2026

David Nye - The London Fish Exchange

Published: 5th October 2026

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

  

The Oslo FoB Index has spent the last two weeks basically going sideways in price. The Oslo FoB Index has rallied .3% in the last two weeks of trading.

The price chart reflects this sideways movement. I made some very modest changes to the price chart and the indicators panes. The Oslo FoB Index ended this week of trading at 69.57 NOK.

The Oslo FoB Index is testing the topside of the green upward sloping trendline that originates from June 29th, 2026. The Oslo Fob Index is also very close to testing it’s 69.02 NOK horizontal support zone. The horizontal support zone and the green sloping trendline could offer support for the Oslo FoB Index. If the green trendline and the 69.02 NOK support zone don’t hold the next logical price support areas would be the brown trendline that originates from the June 29th price lows. This trendline was respected by the Oslo FoB Index in late August and mid-September of 2026. There is also a light green diagonal trendline and the 64.91 NOK horizontal support zone under this brown trendline that could offer additional support for the Oslo FoB Index if tested.

The Composite Index has made a larger pullback in its displacement vs the price decline in the Oslo FoB Index. This can be a bullish setup. The indicator is resetting to lower displacements while the Oslo FoB Index goes sideways in price. The Composite Index is also testing the pink trendline that was drawn from a previous divergence signal in April of 2025. The Composite Index does not have a lot of history making displacement changes at its current displacement. I’m not seeing any bullish divergence in the Composite Index.

The RSI displacement ran up to the upper end of the RSI bearish displacement range for the Oslo FoB Index and retreated. The prior displacement low for the RSI did bounce within the RSI’s bullish displacement range. It will be very interesting to see what displacement the RSI uses for support during this pullback. Will it find support in its bullish or bearish displacement range? The RSI does have some history of displacement changes at its current displacement. Along with the Composite Index, I’m not see any bullish divergence in the RSI currently.

In summary, the Oslo FoB Index has been grinding sideways since my last update two weeks ago while the indicators reset to lower displacements. The Oslo FoB Index is testing the topside of the green diagonal trendline and has the 69.02 NOK horizontal support zone nearby. I’m still of the opinion that the seasonal price lows are in for 2026. If history is a good guide for the Oslo FoB Index, an investor should be buying any price pull backs in the Oslo FoB Index. The main idea is the seasonal price highs should be somewhere in the 110 NOK to 150 NOK price areas in three to six months. In my humble opinion, an investor should be able to make money between the Oslo FoB Index current price of 69.57 NOK and possible coming seasonal price highs, if history continues like it has within the available history of data for the Oslo FoB Index.

  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