Fcpo wrap..no sign of bounce...trading sell preference

Weakness all round. Fcpo hit high in PM opening with a 90-degree like climb from 2660 lvls but shortlived and hitting the low one hour later. Sell on rebound limited any chance of upside and lack of bargain yet. Tech weakness continued coupled with SO -1%

Fcpo remains trading sell if below 2680 with dwward risk towards 2600. Defensive first, waiting for reversal signal to enter long again – crossing back above 7SMA. Till then, mkt seen heading for consolidation phase from recent upward trend. But unlikely to reverse fcpo long tern uptrend mode, >2500.