Cocoa

My analysis has this market poised for a nice upside reversal and price action the past 2 months looks to be grinding down towards a potential bottom.

First, here's my analysis overview:
-The dominant measured move has a deep retracement with 25:20 right-handed skewing.
-The supporting1 measured move has a deep retracement with 13:15 left-handed skewing.
-These 2 deep retracements call for an expected bounce back up to at least the 50.0 to 61.8 pct retracement levels of the 5-3-16 high and the upcoming turn.
-These 2 measured moves also have Fib projections of potential support zones.  We are currently trading near one (361/361 combo @ 2122).  The next one is the 461/361 combo @ 1982 followed by the 461/461 combo @ 1848.
-I believe we will see an upside rally form near one of these 3 Fib zones and just need to look for more supporting clues of a potential bottom.

Second, here's some supporting clues:
-The market has been grinding down the past 2 months and I like to describe this as the market shaking off it bearish energy.
-The majority of the measured moves within this grind down phase have had medium deep to deep retracements with left-handed skewing.  This signals a weak downtrend.  Also, the time ranges on them have been getting smaller the past month, which signals a decrease in momentum.  Finally, the Fib projections from these measured moves all cluster into either the 461/361 combo or the 461/461 combo stated earlier.  This just strengthens those support levels if the market trades down to them.
-We have bullish divergence on the RSI, which points to a weakening of downside momentum.  We almost always see this at major market turns.
-We have some pivot point support levels coming up that could serve as strong support coupled with all the above (S1 @ 2011 and S2 @ 1932).
-We have a swing low coming up @ 1983 on the continuous chart.  This level was last reach back in December 2011.  We saw major support in this area last time, so we could get buyers stepping in again at these levels.
-We were range bound between September 2014 and October 2016, with the high in September 2014 and the low in February 2015.  We finally broke through this range back in October and the size of it projects a level down to ~ 1910.  This falls in place with other major support.

Summary:
I feel we are close to a bottom and should see one set up somewhere between 1850 and current levels.  The key will be to see more supporting clues form like a double bottom pattern or a bullish Japanese candlestick pattern, for example.