Electrical problem? 95 740i

I left my car parked for a couple of weeks and I took it out one day and for some odd reason the right turn signal and the temp gauge started acting up. The problem with the temp gauge is that every once in a while it will start to go up and down, but most of the time it will stay just above the blue line. As for the turn signal it will rapidly flash. It is only the right side and only the side and rear lights turn on. While the car was parked it was raining for a few days. Could water have shorted something out or could it be something else.

Thanks