Metals and Miners were saved by the Fed minutes this afternoon. We could see the final highs on Friday after the employment report.

The bounce in oil may be over. I added back half of my short position around $50.98. I placed a stop for everything (including original short $53.09) at $52.17. I will add the remainder of my shorts if oil closes below $50.00.

-GOLD- Gold was set to make a confirmed price swing and close below the 10-day EMA. However, prices rallied back above $1,258 after the Fed minutes.

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-SILVER- Silver was also forming a confirmed price swing before the Fed minutes.

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-WTIC- Prices tested the trendline, rallying to $51.88 before selling-off sharply. The bounce could be over. Closing below $50.00 would raise the chances of a top to about 80%.

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-XLE- Prices gapped through the trendline/50-day EMA at the open but sold-off sharply this afternoon. Closing back below $69.00 will confirm that the bounce in oil and energy stocks is over.

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