Jim Cramer and Carley Garner: Why Copper and Gold are Ready to Shine

Base Metals Investing

Jim Cramer of CNBC’s Mad Money spoke with technician Carley Garner of DeCarley Trading about why she things that the tide could be turning for copper and gold.

Jim Cramer of CNBC’s Mad Money spoke with technician Carley Garner of DeCarley Trading about why she things that the tide could be turning for copper and gold.
As quoted in the market news:

Copper has been on a massive downtrend for months now, but when Garner looked at the charts she thought that maybe the downward slide could be coming to an end. Copper has traded above $2.40 for the past decade, with exception of the financial crisis in 2008.
However, this week brought some volatile action which resulted in the price dropping to $2.38 and quickly reversed into the mid $2.50s. What does this mean?
“For now I’m thinking that $2.40 is going to hold, and if it does then we will run into some resistance at $2.80,” Garner said.
Additionally, if the price gets above $2.80, then Garner predicts a massive rally for the bulls, up to even the $3.80s.

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