Flazer
Observer
By the looks of your pick the wheel cylinder bleeder is shiny, almost new looking. Did you replace the bleeder? If you didn't it could be a bad replacement wheel cylinder the prior owner installed. The fluid can only be two things, brake fluid or gear oil. If it;s gear oil a simple smell test will confirm. I betting on the wheel cylinder though.
Yes, I was in the process of replacing the bleeder. I'm thinking it's a shot axle seal at the moment.