Note that prices are coming up on the underside of the neckline. Would be a logical stoping point for the peak of wave (a).
Technically speaking, if wave (a) is a zigzag and wave (c) is a zigzag, you have a double zigzag forming minute [ii] which would be correctly labeled (w)-(x)-(y). But that's getting way ahead of things. What matters is we expected a sharp price rise and there is room for a lot more to hit our Minute [ii] in time and price as shown in the green target box above.