The rise since December 2015 did evolve in three so far completed waves, a(3 sub-waves), b(3 sub-waves) and c(5 sub-waves). The current correction may be viewed either as a d(w-x-y) with x ending here or slightly higher, or a major decline of the w-x-y-x-z type leading towards the previous lows of 13.7. (The monthly chart tends to support the e-wave development).