From the chart it looks like oil is consolidating in an upward wedge. So their could be two scenarios here either it brake the lower trend line first and we get to short a huge crash or it brakes the resistance at 54 in which, i will open a long position. With the decreasing i think breaking the lower trend line should be the most probable scenario. Bur for now its just wait and watch time for me.
Just wanted to add another observation here. The last two peaks on CL1 are making Higher Highs where as on Stochastic same peaks are making Lower Highs. This situation qualifies for Bearish Divergence. Moreover, stochastic crossover (bearish) towards the end gives a strong indication for Oil crash during tomorrow market session. Time to go long for DWTI.