Possible recession signal in oil OXY is testing two important lines. The medium term trend from covid reopening and the bottom support of a large wedge. If these levels are broken to the downside I'd expect a crash from current oversold conditions within the next few months. This would coincide with rates falling off even further and unemployment rising.
However, the weekly and daily stochastic are in oversold territory and the broken trendline could be a bear trap.
Best trade I see is no trade at all. If you must trade OXY, perhaps small yolo put in the event of a economic hard landing.
