SINGAPORE: New York May coffee may retest a support at $1.7265 per lb, a break below which could be followed by a drop to $1.6565. The contract failed twice to break a resistance at $1.84.

The failure suggests the formation of a double-top, which will be confirmed when coffee breaks $1.7265.

NY coffee may rise into $1.7960-$1.8310 range

Resistance zone is from $1.8065 to $1.84, a break above which could confirm the continuation of the uptrend towards $1.9055-$1.9535 range.

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