The chart below shows consolidation in commodities beginning last summer. The previous low in the CRB Index from August 2016 was 176.67. The CRB touched 176.68 late last week. At the very least, this has become something to trade because the risk is easily managed.
On the chart below, you can see that oil has formed a swing low. This is the signal to enter a long trade. It is not a guarantee that prices won't still move lower, but it is a strong entry signal. I would prefer that the CCI had moved below -200.
In summary, my biggest concern is that sentiment is not as pessimistic as I prefer. I like how the CRB seems to be forming a double bottom. Most of all, I like the potential reward for the limited risk.