After five sombre days of declines, MercadoLibre was up 0.49% today

A quick look at today: bullish sentiment helped the e-commerce marketplaces operator to hammer out a noteworthy $1,233 to $1,257.79 range today, and finally closing at $1,235.63 to end the session.

United States's Crude Oil Inventories new data released of -5 million below its previous figure.

MercadoLibre's uptick comes amid good United States macroeconomic data released during the day — United States Core Durable Goods Orders improved upon its previous reading of -0.3% with a new data release of 0.3%.

On the flip side, following a previous reading of -4.58 million, Crude Oil Inventories in United States released today at 14:30 UTC fell short of the -1.49 million figure expected by analysts with an actual reading of -5 million.

At the same time, United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000.

MercadoLibre's lower Bollinger Band® is at $1,217, indicating that the market is oversold and fertile for new buyers. Despite this, although MercadoLibre is appreciating today after rising as high as $1,257.79, price action is now slowing and consolidating around $16.42 below the $1,252 resistance level.

Examining the technical analysis landscape, MercadoLibre might continue its downtrend in the short term.

A look at other consumer discretionary stocks also showed bullish price action as Amazon was up 2.35%.

MercadoLibre went up today, yet these consumer discretionary stocks did not follow — Home Depot lost 2.79% today and closed at $288.07. Tesla falls 4.31% today to close at $160.67.

Also worthy of note, tomorrow at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%. United States GDP projected to come out at two — worse than previous data of 2.6; data will be released tomorrow at 12:30 UTC. United States Initial Jobless Claims expected to decline to 248,000 while its preceding data was 245,000, data will be available tomorrow at 12:30 UTC.

Trading mostly sideways for 2 months. The e-commerce marketplaces and online auctions operator is now trading 6.96% below the significant high of $1,321.47 it set around 8 days ago.