Well here is the July Crude contract I've posted before. Price has been free falling with DX rallying straight up since late April. No coincidence for sure. But with DX overbought and bouncing off resistance and Crude very oversold I would expect a rebound soon. Doesn't mean you try to catch a falling knife as the trend is your friend but I sure wouldn't be shorting it here. And if short already I'd have a trailing stop in place to stop the clock when price rebounds. Lots of ways to skin a cat so one could buy call options if you can find ones with some time on them and reasonable. You wouldn't need to have perfect timing with that strategy. The next most active contract other than July is Dec with August also very high open interest. August options expire in July which is not far away but a bounce is likely before then. Dec Crude options expire in Nov.
Note the lower technicals with the RSI 21 well below the 30 line which is rare when this oversold. And the CCI 20 is showing a strong positive divergence on these recent plunging lows which are washing out all the weak hands holding Crude contracts. Note price action after the previous times the CCI 20 tagged the very oversold -200 zone and then with lower price lows showed a positive divergence. But everyone has a different risk/reward acceptance so deal with it in your own way. Or stand aside. But a spike low is close by I believe with this price action.