Ever since crude bottomed in mid-February, Jim Cramer has been convinced that oil could easily bounce back to $50 a barrel. That was a bold call to make back when it was in the $30s, but it became a reality on Tuesday when oil closed at $48.
Unfortunately, stocks in the oil patch may not continue to get a lift from rising oil prices.
To find out what could be in store for the future of major oil and oil service stocks, Cramer spoke with Robert Moreno, a chartist, publisher of RightViewTrading.com and colleague of Cramer's at RealMoney.com.
Back in February, Moreno took a look at the charts and correctly predicted that Exxon Mobil, Chevron, Schlumberger and Pioneer Natural Resources were poised to head higher. However, this time around Moreno believes that the rally in the oil sector is overdone.
"When Moreno now says the group could be due for a near-term pause or even a pullback, I think we need to take him seriously," the "Mad Money" host said.