I dare say you're observing a see-saw oscillation between the two probes' capacitances and ground clip / tip inductances.
This is an important lesson actually, as some components can do this. Parallel diodes, for instance: if the trace lengths are unequal, and the recovery times are unequal (even if schottky, the strongly nonlinear capacitance can produce the parametric equivalent), the junction capacitance - stray inductance loop becomes excited. Which, if the mutual connection of the two diodes is balanced, the ringing doesn't leave the circuit -- like the handle of a tuning fork, it's neutral. But the resonance is nonetheless present, and prone to radiate energy!
Damping the common point bridging the two capacitances can help. In this case, you might try 100 ohms from source to each probe, rather than tying them in common over 220.
Tim