Phil Flynn: Buy The Dip on Oil. What About The Dollar?

Описание: At MoneyShow Orlando, Phil Flynn on the reasons why oil is stalling out on the weekly trading charts. We've had incredible numbers when it comes to demand, the economy. Wages are going up. And this is somehow bad news? When oil traders look to the stock market as a potential future growth, they get a little nervous when the market crashes. I think that's why we're stalling out. Demand is strong, exports are good. I think you would be in a buy-the-dip mode on oil. The dollar always had some impact on the price of oil. The question is how much? If you're addicted to oil in Europe and the dollar is strong, better for you because you can buy more oil. In the developing world, same thing. If you get a weaker dollar, oil is a lot cheaper.