MercadoLibre: decline holds but daily double bottom clouds the picture

MercadoLibre is in the 4th week of a sell signal, with the position down 2.77% from entry. The week closed with a 1.1% decline and sell flow at 65%, but the daily chart has formed a double bottom in the 1530 area with a 7% rebound: a sign of support that warrants attention. The directional decline is still in place, but the short-term structure calls for close monitoring.