I thought this country is still default right?
P.S. Dear Argentinian trader out there, i do not mean to offend, just ridicule by the parabolic ballistic price movement
On a more serious note, I've done some analysis on the daily and could find specific targets that were met in time for this decline, so I think it's more or less making sense.
Most of the price fluctuations in the local market are super manipulated though, and depend on the unofficial USDARS rates. (capital leak is of major importance...big players buy stock/bonds, sell in the US for dollars and get the cash back to then sell for the unofficial USD rate, and make back the spread which is around 7-8% in general)
Official usdars rates are 100% manipulated, and show a ballistic uptrend like this but worse. ARS weakness, naturally.