JP Morgan $JPM has been consolidating since it broke above $100 a share and found resistance just under $120 a share. On the daily chart below, we can see the sideways price action, with a bit of a rounded top.$JPM Daily Chart(click to enlarge)Supports Looking Shaky:- Recently we noted that the rising channel support held, maintaining the prevailing bullish trend.- However, the rally was rejected at $112 and price seems to be falling sharply this week.- Furthermore, note that the RSI held below 60 after it was able to tag 30. This suggests development of bearish momentum.- Also note that price is respecting the 100-, and 50-day simple moving averages (SMAs) as resistance. This is a subtle bearish signal. A strong one would be breaking below the 200-day SMA and then treating it like resistance.Bearish Outlook:- I would not rely on the rising channel support, nor the $104 neckline support.- It looks like price is eventually going to "top" and slid to $100, and possible lower.- For now though, I would limit the bearish outlook to the $90 area.