National Grid under pressure: decline holds, but the double bottom clouds the picture

National Grid is at week 5 of a sell signal, with the trade still slightly in the red. The latest week closed marginally higher, but the technical picture is mixed: MACD deteriorating steadily, momentum accelerating to the downside, while buyers have dominated for 3 consecutive weeks and a double bottom is forming in the 1180 area. Trading not recommended; those already short should monitor the setup carefully.