SINGAPORE: New York May coffee may bounce into a range of $1.84-$1.8735 per lb, as it has completed a correction from the Feb. 22 high of $1.9415.

The correction adopted a double-zigzag mode and had been developing within a falling channel.

The escape of the contract from the channel confirmed the completion of the correction. A duplicated channel suggests a target of $1.84.

Asia coffee: slow business in Vietnam; Indonesia prices rise

A break below $1.77 may open the way towards $1.6565-$1.7265 range.