Brent crude lifts above $72 but where might sellers return?

Earlier today the price of Brent crude for January delivery fell to a fresh interim low. Brent fell to a low at $71.57 yesterday, but managed to recoup some of the earlier losses ahead of the NYMEX settlement, but it still closed $2.04 lower on that exchange, at $71.83. Earlier today Brent dropped to a session low, and new low on the week, at $71.55. However, it has rebounded from there again and just now lifted to a session high just above $72.25. The question this morning; where might it reach before another wave of selling might kick-in? Well, we have the 21 and 50 day moving averages on the January contract clustered close to each other just now. Those are at $73.66 and $73.56 respectively. So, as you can see, despite the current rebound, it still has more ground to make up before those might even be reached. At this stage it would seem a little unlikely for fresh sellers to wait for those levels, before stepping in again, but we shall see from here on. Brent for January delivery is currently trading at $72.20