American Express was bullish in 2017, but found resistance around $102.35 in January 2018. Since then, price has mostly stayed under this resistance. But the price lows has been pivoting higher. Thus, price action has developed an ascending triangle.AXP Daily Chart(click to enlarge)Bullish Bias:- While price action in 2018 can be described as a period of consolidation, we can also say that there is bullish bias because of the rising lows.- Also, note that price has essentially been bouncing up from the 200-day simple moving average and a rising trendline.- These are signs that bulls are still in control but might not have a catalyst yet to continue the bullish trend.- It looks like price is once again cracking the resistance.- If price can anchor above $100, I would be convinced that a strong bullish breakout is coming.Consolidation Mode Scenario:- At this point, a break below $96 would be a strong indication that the market is still in consolidation mode. It also takes away the bullish bias, and opens up the $90 mark down to the $87.75 support/resistance pivot.