SINGAPORE, April 7 (Reuters) - New York coffee KCc2 may retrace into a range of $3.1785 to $3.4310 per lb in the second quarter of 2025, as suggested by its wave pattern and a projection analysis.

A big wave $(C)$ from $1.45 seems to have completed around resistance at $4.2465, its 161.8% projection level, as confirmed by the depth of the correction from the February high of $4.2995 and a group of big black candlesticks.

Five small waves make up the wave (C), with the fifth wave, the wave (5) further consisting of five smaller waves. The wave iv territory spans across $3.14 to $3.4835, which serves as a target zone.

Wave theory also indicates that the market may eventually fall to the bottom of the wave ii around $2.40. The current fall may last a very long time, as it is against the long-term bull cycle from the 2019 low of $0.8760.

The fall could at least be the same degree as the one from the February 2022 high of $2.6045.

On the daily chart, the contract is riding on a wave c, which is expected to travel into a wide range of $3.1405 to $3.5355, formed by its 161.8% and the 100% projection levels.

The fall seems to be observing a series of retracements on the uptrend from $1.9145 to $4.3040. After breaking the support at $3.74, the contract is expected to test the next support at $3.3910, which falls within the wave 4 territory.

Only a break above $3.9550 could signal the continuation of the uptrend.

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** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.

** No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

(Reporting by Wang Tao; Editing by Varun H K)

((wang.tao@tr.com +65 6973 8364/9188 4196))