Crude Oil breaks bull structure, will we see $50.00 oil?

Over the past few weeks, oil was making some gains slowly to push up from the lower $50.00 level and nearly into $60.00. There was some technical stagnation just under $59.00. A triple top had formed and we were waiting to see if support would hold for a push through resistance into $60.00, then the news came out from OPEC and OPEC+ that brought a strong 5% drop in the price. Through all support structure that was supposed to hold for upside. The bull trend is officially broken, which means we are looking for level at which to short CL to a move lower. The news is short-term however we may an extended move lower in the coming days or weeks. The first support level was $57.40, however price closed at $55.45 on Friday's close, right at support.
The next level for the retrace based on the market structure is around the 50% retrace move from the whole downside and the previous support level is broken ($56.75). The year to date POC is at $56.50 so there is a 25 cent range between those levels that could be a good area of resistance for the shorts. Above that, we may start looking for longs again. The target to the downside is $54.05.