JO is the Coffee ETF and the Dow Jones-UBS Coffee Subindex Total Return is a single-commodity subindex currently consisting of one coffee-futures contract, which basically tracks the price of coffee. JO looks to be testing resistance again at 30.80-31.05, it has failed three times at this level over the last two months and the more the resistance level is tested, the weaker it becomes. A break of this could be potentially bullish for the commodity. But the real resistance for this commodity is at 31.87. This is longer-term resistance and the downtrend. Things won’t get bullish for coffee unless it can get above this level. But first lets watch the 30.80 level.