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.