WTI Crude Oil at a Juncture

Two Possible Trades:

• Resistance continues to hold, short trade
  I will wait for a break below the low of the latest four-hour hanging man at 53.00 to initiate a short.
  A break below the rising trend line may confirm the short scenario.
  
• Resistance breaks, long trade
  In this case we need at least a daily closing above that resistance. Minimum target for this scenario at 59.00
  

Scenarios and targets are illustrated on chart..
I will be updating with specific entry levels if materialized.. .

Good luck...
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Technician