Your crit chance and APoC are okay, your DPS and armor more than enough. What you need is some IAS (faster weapon, IAS on gloves, rings, amulets, maybe a cheap Witching Hour if you can afford it), all resistance, and either Life Steal or Life on Hit (most people prefer LoH, but everyone should figure this out for themselves). You also might want to get a bit more health, but it's more or less for more safety... some play CM with 60k+, some manage it with ~35k.
It depends on what you want to run. If you're looking to just farm low MP, you can use an Archon spec and farm MP0-1 really easily. If you want to farm higher MP for keys and ubers, CM is the most efficient spec, imo. Your gear looks decent to start CM, though your resists are a little on the low side. I'd say just go for it and try MP5, which shouldn't be too bad. I run MP7 with similar stats though I have around 700 resists before prismatic armor.
If you are having problems with replenishing health, you can swap your pants for some Blackthorn pants because they have LoH. You can also grab a different Storm Crow with resist all for a couple mil tops that will help, since your current one just has poison resist, I think.
For reference, I'm tanking the uber bosses on MP7 in a group just fine with 400k EHP (37.5k actual hp, so I have like 90.8% damage resistance) and around 850-900 LoH with 40% crit.
Everyone who is saying CM sucks, they obviously haven't played it correctly. I personally can farm MP7-8 without too much problems with only 100k dps buffed with Force Weapon and Pinpoint Barrier.
In your case there are a few simple things you must change that would make a huge difference in your build.
I would start changing the passive Evocation to Glas Canon for the extra 15% DPS. You have enough armor and HP. I can't really see your Resistances to all but it seems like 400/500 buffed? Should be ok.
Change your rune on Frost Nova right away to Deep Freeze instead of Cold Snap. You get 15% free crit (!) when you hit 5 or more targets at once with this skill. This is really a must have on farming!
I would personally change Slow Time for Force Weapon but if you have problems surviving take Teleport instead. But if you ask me, just play smart and you almost never get in a situation were you would need teleport. This gives you room to buff your DPS with an additional 15%. Easy choice if you ask me.
VERY IMPORTANT! I see your Scoundrel is lvl 59. So I'm guessing you are not using it yet. It gives an free 5% crit wich is the most important bonus what the followers have to offer. Start using it right away. No excuse!
With the changes I told you before you should be doing allot better allready but the next thing you should be looking out for is life on hit. When you wanna pump up the MP's this stat becomes so much more important. I see you don't much at the moment. Additional stats wich always need attention when gearing is crit, crit dmg and apoc.
I can't post the URL to my own wiz because I didn't made 10 posts yet... my tag is Ragna#2470. The profile is not yet updated on my pc. Maybe it will be when you read this post.
Small comment but scoundrel only gives 3% crit, not 5%. But the point is the same, name scoundrel should be better than enchantress since the crit buff is active all the time while the chantress attack speed buff is only active while she's a live, and the crit should help more than the attack speed increase.
I agree with the other changes to some extent, as long as they don't comprimize your survivability but if survival isn't much of an issue you might get more out of using Storm Armor - Shocking Aspect instead of Pinpoint Barrier.