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For now Brent crude avoids a test of 200 day moving average
Yesterday following updates here, the price of Brent crude for September delivery fell further and later dropped below the $82 per barrel handle. The low seen was set at $81.60 not long after the US stock markets reopened. However, as you can see, the noted 200 day moving average was not seriously put to the test. That was in place at $81.27 yesterday and Brent later rebounded into the NYMEX settlement, where it closed that session just $0.23 lower, at $82.40. It has traded a little higher today and so far the price action has been covered by $82.22 to $82.63. That 200 day moving average is in place today at $81.28. Brent for September delivery is currently trading at $82.40
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