Facebook Inc. $FB has been in a correction mode since the start of May, along with the rest of the market. It accelerated this decline on Monday (6/3) falling to almost $160, and thus testing a key support area that should hold if the bullish mode is still in play.FB Daily Chart(click to enlarge)Sharp Pullback vs. Support- The daily chart shows how price has fallen sharply from a previous support at $180. - The market is in correction mode at least for the short-term. - $160 would be support if the market is still bullish on FB.- This $160 area involves the 200-day simple moving average (SMA), as well as a previous support pivot. - If price gets "sticky" around here and then rebounds, FB will probably be rally back up to the $200 mark again.- Otherwise, there can be downside to $150 which is the lower bound of the current potential support area ($150-$160). - Holding above $150 would still reflect a bullish market, especially if the RSI on the weekly chart holds above 40. - $150 was a key pivot in 2018. A clear break below $150 on the other hand would open up the 2018 low around $123-$125, with the potential of extending lower if price does actually get down to this low. FB Weekly Chart(click to enlarge)