Carley Garner and Jim Cramer talk about Copper and Gold!
Cramer has always said that copper is an important metal that could provide investors with a great read on the state of the global economy, as well as gold which hit an eight-month low on Thursday. He uses copper as a reading especially for China.
That is why Cramer spoke with Carley Garner, a technician and co-founder of DeCarley Trading (a commodity brokerage) and author of "A Trader's First Book on Commodities." She is also Cramer's colleague at RealMoney.com.
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.
For more click on the thumbnail image below to access the video archive of Garner and Cramer discussing the gold and copper commodiity markets.