I am not a bear but I can give you a couple of reasons why it could go down.
1)Because everything can always go lower:)
2)Daily volume has quadrupled in last 2 months during which time the shorts have pushed and may continue to push cocoa lower due to a record harvest
3)Any finacial chaos in Europe may push the Euro lower/dollar higher which usually has a negative effect on commodities which are priced in dollars.
That being said, cocoa has put in an interim bottom at $27.23 that you can set a stop at just in case it decides to break to new lows. I will be buying below $28, sell it at $35 with a stop at $26.5