Is my master cylinder leaking?

[levdir]

I had my handlebars off in order to open up the forks and replace the fork oil, and they hung upside down for about a week. When I put the forks back together and bolted the handlebars back upright, I had almost no resistance from the brake lever, so I rebled the brakes and got them stiffened up again. I wiped everything down to prevent the brake fluid eating any more of the lever's paint (futile, but whatever), but about ten minutes later I had this little stream of oily fluid running down the handle. Is my master cylinder leaking/shot?

 

[xschris]

Either the reservoir or the plunger is leaking. Dry it and watch to see where it is coming from.

 

[levdir]

Boo. Okay, will do.

 

[xschris]

With the paint on the lever peeling my bet it's the reservoir and or cap.

 

[levdir]

The little diaphragm under the cover appears undamaged, but the first time I opened the reservoir the metal bracket was quite rusted, so I'm not sure. No grit or rust in the reservoir though. I'll pull the reservoir and see what kind of shape its seals are in.