Strong Dollar and Strong oil never worked .One has to fall
Dollar is on a strong up trend and oil is on a uptrend with heavy speculation .Egypt is much more stable than everyone expected . Oil will plunge . No reason to short here , but once oil falls it will be same as NG
The dollar is still not strong enough yet, but your point is spot on. The problem is that oil consumers hedge the downside of crude, so wall street is taking those short bets. Wall street does not like losing when they sell these hedges to corporate customers, so it usually takes a lot longer for the downside of the equation.