Technical Analysis: LFEX Norway Exporters Salmon Index, 9th October 2026

David Nye - The London Fish Exchange

Published: 12th October 2026

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

  

The Oslo FoB Index rallied 1.72% to finsih this week of trading at 70.98 NOK. This is the third week in a row of very small price movements for the Oslo FoB Index.

The Oslo FoB Index has been trapped between the 71.14 NOK resistance zone and the 69.02 NOK horizontal support zone for three weeks. The Oslo FoB Index has also been trending along the green upward trendline that originates at the June Oslo FoB Index price low. When the Oslo FoB Index decides to start it’s next move up or down, the Oslo FoB Index will likely head towards the brown diagaonal trendline above or the purple diagonal trendline below the green trendline along with the corresponding horizontal support or resistance zone. I can argue that the Oslo FoB Index is making higher price highs and higher price lows for the last five weeks of trading.

The Composite Index is displaying a bearish divergence signal. The black trendline on the Composite Index pane marks this divergence signal. The Composite Index made a lower displacement high while the Oslo FoB Index made a higher price high. I don’t believe this divergence signal is exceptionally strong signal but it’s on the chart. The Composite Index is testing the top side of its slow moving average which could provide support for the Composite Index. The new black trendline intersects the pink trendline on October 9th plus or minus a day or two. The new black trendline also intersects the brown trendline on October 13th plus or minus a day or two. These two signals might be displaying the same signal, it could be that my trendlines are not drawn perfectly on the chart. If the Oslo FoB Index does have a change or acceleration in trend in the coming days, it will add validity to the new black trendline. Notice the Composite Index has reset to a lower displacement while the Oslo FoB Index price grinds sideways. This is usually bullish acton.

The RSI also is displaying the same divergence signal as the Composite Index. I drew in a black trendline on the RSI pane to display this divergence. Both the RSI and the Composite Index’s are testing the underside of these newly created black trendlines. These black trendlines can and have provided resistance for the indicators recently. The RSI is near the upper end of its displacement range but it does have room to move to higher displacements, especailly during bull markets for the Oslo FoB Index. I could also argue the RSI is operating within its bullish displacement range the last since early September.

In summary; as usual, the Oslo FoB Index is displaying bullish and bearish charactoristics. I’m still of the opinion the seasonal price lows are in for 2026 and the Oslo FoB Index should be starting its seasonal price climb. There is a possible time target via the new black trendline on the Composite Index that should cause a change or acceleration in trend during the next week of trading, if this black trendline is valid. The next week of trading should provide some additional clues as to where Oslo FoB Index is in its current uptrend.

  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