The big banks kick start the earnings seasons on Friday. Will JPMorgan break out of this ascending triangle?

Taking a look at JPMorgan as banks kick-start the earnings season this Friday. Currently, its stock is trading at around $145.36 a share. Looking at the chart on the daily timeframe, we can see the price has formed an ascending triangle. The next key resistance level sits at $147.48 (upper trendline), a break and close above this trendline could see the price climb higher towards $150 a share. A mid-longer term outlook would be $158-$159. Although this depends on several factors, for example, upcoming US CPI data and the Fed’s interest rate decision and comments. We can see that support is well established below with levels at $141.44 then along the ascending trendline at $139.51. A break below this trendline could see a retracement lower towards $137.69 and even $134.41. However, unless this scenario is taking place, the bias remains bullish. Over to the technical indicators, MACD is slightly positive and so is the RSI as it reads 60.