Watching Crude Oil on the hourly, range compression scenario

Been keeping an eye on $OIL this morning. We've seen a pretty tight range develop around the $28.10-$28.45 area on the hourly chart. It looks like a classic compression pattern, coils tighter and tighter. I'm wondering if we're setting up for a break, likely dependent on the next major news catalyst. On the upside, if we can decisively clear $28.50, I'd look towards $29.00 next. Downside, a break below $28.00 would make me re-evaluate, as it suggests the current bullish momentum might be weakening considerably. The risk to this range compression idea is a complete market indifference or further sideways chop without conviction, essentially just burning time. We've certainly had enough of that lately.