The recent rally in the energy space is not sustainable, according to technical analyst Todd Gordon.
On CNBC's "Trading Nation" Wednesday, the founder of TradingAnalysis.com said a divergence in the chart of crude versus energy stocks leads him to believe a breakdown may be in the works.
"At the lows [in January and February] you can see that the energy ETF, the XLE, made a higher low while crude oil made a lower low. This tells me that crude oil has made a new low and is likely to roll back over which, as history indicates, is likely to lead energy lower," said Gordon.
Oil has rallied more than 45 percent from its Feb. 11 low of $26, while energy stocks are up 17 percent in the same period.
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