Goldman Sachs $GS is falling sharply and opening up more downside risk. GS Daily Chart (click to enlarge) Shifting Trends:- When we look at the daily chart, we can see that price action was bullish in 2016 through 2017 but found resistance around $275 in the first half of 2018. - Essentially the trend turned sideways as price retreated back to 2017 lows.- However, after price failed to climb back above the 200-day simple moving average (SMAs) in August, we saw more bearish risk.- More recently, price retested the 2017-lows, rebounded, and found resistance even lower, around the 100- and 50-day SMAs. - Not only that, the subsequent retreat was sharp, resulting in a break below the 2017 lows.- Now, the sideways market has shifted into a bearish one. Long-term Support:- GS has been on a bullish "trend" since 2009.- I put trend in quotes because its been choppy.- Because it has been choppy, I am not putting so much emphasis on the fact that price is at the 200-week SMA.- There might be some short-term support here, but we have seen strong sell-offs drag price below it.- The RSI has also been falling below 30 every 2-3 years. - While patterns don't always repeat, this pattern is quite compelling, of course as long as we are not too specific about it.- What I extract from it is that IF price does fall to the $170-$180 area, I would anticipate support and an end to the bearish correction around the corner. - This would probably happen in 2019. GS Weekly Chart (click to enlarge)