Shares of Goldman Sachs Group (GS) have been in consolidation mode for most of 2017 after a bullish run in the second half of 2016. After reaching height of 255.15 at the end of February, GS has been in a bearish correction and a sideways consolidation.Goldman Sachs Group (GS)(click to enlarge)Bearish vs. Bullish Signs:- The daily chart has both bearish and bullish signs.- The bearish signs is that since reaching 255.15, price has slid and fallen under the 100-day simple moving average. The RSI has tagged below 30, and since remained below 60. - On the other hand, price is still above the 200-day SMA, which is a bullish sign.More Bullish Signs:- Now, if price can break above 230, we will see more bullish signs, or rather bullish continuation signs. - First of all, the pattern of lower low has ended. In the daily chart, we can see that lows in the last few months have created a "rounded bottom". This might not be a bullish sign, but it is a sign that bears have lost steam.- Also, if price pushes above 230, it will have broken a key support/resistance pivot area. This might liberate GS from its consolidation mode and spring it back into the bullish trend.- Finally, if price pushes above 230, the RSI is likely going to push above 60, which is another sign that bearish momentum is dead. Then, if the RSI can push above 70, it would be a sign of new bullish momentum. Key Support; Bearish Scenario:- While a break above 230 would be a bullish continuation signal, a break below 216 could be a signal for more consolidation/bearish correction. - This is especially true if it happens right after price cracks above 230. In this scenario, it would be a false bullish breakout followed by a bearish signal. This would open up 210 and then the 200 handle. -