Brent falls below $82.50

As covered here earlier today, on Friday the price of Brent Crude oil came close to falling below $82.50. The rebound that came earlier today saw it top out at $83.22 just before that was sent out. So, as you can see now, the 50 day moving average, at $83.20 pretty much capped the rebound. Well, now the price has fallen back to a fresh interim low a short while ago, at $82.34. That means it is now closer to the next, potentially important level, at $81.27. That is the current price point of the 200 day moving average. Now, that is not to say it will get down there, but more so to highlight the next support level of any note. Brent has been trading above its 200 day moving average since June 11. Brent crude for September delivery is currently trading at $82.47