Once again, crude's pattern of the last few weeks played out on Tuesday, with the averages crushed and the price of oil plummeting down to a six-year low. And while Monday saw some major rallies in the oil-and-gas complex, most of those gains were wiped away Tuesday.
That is why Cramer turned to the charts to find out where the future of large energy players is headed. He spoke with Bob Lang, a technician and founder of ExplosiveOptions.net, as well as Cramer's colleague at RealMoney.com. Lang took a close look at the beaten down energy group, particularly with the big dogs like Exxon Mobil, Chevron, EOG Resources and Occidental Petroleum.
The first thing to note is that all of these stocks are currently trading much lower than where they were the last time crude tested the $43 level in March. However Lang thinks that while crude is getting crushed right now, the technicals actually paint a brighter picture than you would expect.
This is because Lang believes that oil does not have much more of a downside left. Lately, the price of crude has hit levels that have not been seen since the Great Recession in 2009. In fact, the charts indicate that it is currently at insanely overbought levels, which suggest that oil is due for a bounce.
With this in mind, what about stocks of the oil companies themselves?