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Brent crude does now slide below support in a more dynamic way
Following the previous update on the immediate price action of Brent crude for September delivery, the price has now well and truly busted below its 200 day moving average, at $81.28. The low seen a moment ago was set at $80.68. The move through $81.28 on the second attempt seemed to spark a raft of fresh selling, probably from systems guys and surely stops involved on that as well. The next thing to note from here on today; is whether or not the September contract will settle below $81.28 on the NYMEX exchange later this evening. Brent is currently trading at $80.80
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