SINGAPORE: New York March coffee is biased to retest a resistance at $1.7340 per lb, a break above which could open the way towards $1.8535.

The fall from the Dec. 16 high of $1.7380 has been deeply reversed.

The reversal suggests the formation of a double bottom, which will be confirmed when coffee breaks $1.7340.

NY coffee may fall more into $1.5890-$1.6185 range

Support is at $1.6665, a break below which could be followed by a drop into $1.6185-$1.6425 range.