The power steering fluid reservoir on a 2007 Chevy Cobalt is typically located
under the hood, near the front of the engine. It's often a small, clear or translucent plastic reservoir with a cap that might have a power steering symbol on it (a steering wheel with a fluid droplet). Look for a reservoir with a dipstick or markings to check the fluid level.
However, the exact location can vary slightly depending on the engine and trim level. The best way to find it is to consult your owner's manual. It will have a diagram showing the location of all fluid reservoirs, including the power steering fluid reservoir.