Well down, yet a bit swollen up? (3)

I believe the answer is:

low

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'well down' is the definition.
'low' can be an answer for 'down' (similar in meaning). I am not certain of the 'well' bit.

'a bit swollen up?' is the wordplay.
'a bit' indicates a hidden word (the answer is formed by a bit of the clue).
'up?' is a reversal indicator (I've seen 'up' mean this (in down clue: letters go upwards)).
'wol' is hidden within 'swollen'.
'wol' back-to-front is 'LOW'.

'yet' acts as a link.

Can you help me to learn more?

(Other definitions for low that I've seen before include "SECOND PART OF 14" , "Inferior, cow's call" , "Not elevated, may be base" , "Opposite of high" , "Depressed; near the ground" .)

I've seen this clue in the Evening Standard.

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