The following rally into June '15, as a 4th wave, met precisely of the 3rd wave. It also traced out a triangle which implied a thrust down to precisely where the following decline bottomed (5th wave).
In total, this decline from June until August represents 0.618 of the length of the wave labeled "A" in the chart. From $37.73, I see a 5-wave rally into October which has retraced just about 0.618 of itself to date.
All in all, I think this gives good E.W. technical basis to view the "C" wave as complete, unless the price falls below $37.73. I hesitantly speculate that oil may actually be in a triangle and may rise to the $90s next in a "D" wave, though I imagine that this would almost need to correlate with some imminent but unforeseen geopolitical event which constrains supply. If the Saudis are really fixing the price in the $60s to knock American frackers out of the game, it would have to be something or someone more powerful than them. Happy Halloween.