SINGAPORE: New York May coffee may retest a resistance at $1.8065 per lb, probably after a shallow correction to $1.7775.
The resistance is identified as the 61.8% projection level of a wave c from $1.7310.
It is strengthened by a similar one established by a falling trendline.
The wave c is capable of travelling to $1.8530.
Asia coffee: Thin supplies in major Asian robusta producers
A break above $1.8065 could lead to a gain into $1.8240-$1.8530 range.
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