Crude seems to be in the final leg of wave c. It is expected to bottom out 9 months from now, in November 2015.Green shade represents the upmove period from 2000 to 2008 and the purple shade depicts the time period of correction from 2008 to the present period. We see that the corrective period equals the uptrend period, more or less.Since corrections take longer than up-moves, we expect the bottom for Crude to be sometime in November or early December 2015. 80 to 90 is a severe resistance zone- so right now crude is for trading and not for investing.
This also means that the current uptrend is only corrective and crude should resume its downtrend after this upmove. That ought to be c of c and may bring crude`s downward trajectory to an end.