Goldman Sachs $GS is having a major correction, off its high around $275 on 3/12 to just above $176.50 by 12/12. Here, GS is supported by a rising trendline, but the current bearish price action suggests we might see GS at $170 before it finds significant support.GS Weekly Chart(click to enlarge)Rising Trendline:- The weekly chart shows how price is is on top of a rising trendline support.- I think the current bearish momentum can push GS below the trendline support and open up the $170 area.- I think we can expect buying here, as it has been a common support/resistance pivot going back to 2010. - Now whether price bounces off 176.50 or the 170 area, we should limit the bullish outlook to $220, and expect resistance starting around $200.