Brent Oil Breakdown – Rejection & Freefall From Channel Highs

Brent Oil delivered a textbook reversal last week.

After weeks of climbing within a rising channel, price printed a strong rejection wick at the upper boundary (~$79.45), then followed through with a violent sell-off, slicing through structure and breaking the channel cleanly.

🔍 Key Levels:
• Rejection High: $79.45
• Structure Break: $74.89 (former support, now resistance)
• 4H Demand Zone: $66.00–$69.00
• Daily Demand Confluence: Aligned with 4H zone

On the 1H and 23min, we’re now seeing price trying to stabilise above $69.80 — right on top of the 4H and daily zone confluence.

📉 Bias:
Currently bearish below $74.89.
A clean retest of that level could offer continuation entries.
However, price is now in a high-probability reaction zone, so intraday longs are possible if price shows strength above $70.

⛽ Watch For:
• Bullish price action around $68.50–$70.00
• Weak retracements into $72–$73 for potential short entries
• Break below $66.00 could open floodgates back toward $63 and $60.00