Madagascar Faces Severe Gold Smuggling Issues with Annual Value of $2.8 Billion
- Gold Smuggling Phenomenon: Madagascar produces up to 20 tonnes of gold annually, valued at $2.8 billion based on current prices, yet almost none appears in official trade records, severely impacting national revenue.
- Criminal Group Activities: The central bank governor stated that criminal gangs use aircraft and helicopters for gold smuggling, with the government's strategy aimed at reducing this illegal trade to protect the national economy.
- National Buying Programs: Madagascar and other countries like Ecuador and Ghana are implementing domestic buying programs to attract small-scale miners into regulated markets, thereby reducing reliance on smugglers and increasing state revenue.
- Environmental and Social Impact: Illegal gold mining leads to environmental pollution and is linked to human trafficking and funding for armed groups, placing immense pressure on the government to regulate this sector.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00387 | 0.0169 | 0.0279 | 0.0409 | 0.0519 | 0.0649 | 0.0759 |
| Fibonacci | 0.0169 | 0.0261 | 0.0317 | 0.0409 | 0.0501 | 0.0557 | 0.0649 |
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