The trend for precious metals and oil are back in form. Oil showed many bullish signs, the most being its Tuesday/Wednesday move that formed a trench. To start this move, oil came down from $100 to $97 and flattened, then the trench was made to $95 and back to $97. That shows us where the bottom level of support is. Then it stayed flat until an up move and now we are back to $100. There was a flash crash today, but flash crashes are common and more than anything flash crashes are ways to manipulate either a lower buy price, or to maintain a high price. Since it is my belief that the President's Working Group is hoping to keep oil at this level for as long as possible. The flash crash happened because an algorithmic trading black box wanted to scoop up a buy at $95.
Gold had a very strong move up today, and on the back of a capitulating dollar. Gold first made a strong move when the dollar strengthened, and stayed up when the dollar sold off. Today was a good day for gold.
Silver and platinum remained sanguine, but are showing that support is a little lower than their current price. Given that the market fundamentals have not changed, I think that when quantitative easing is continued, the Four Horsemen will solidify their move to the next level.