What is Oil Pullback Meaning?
The crude crude oil price of a oil instrument does not move upward or downward in a straight line. Instead the crude crude oil price moves up or down in a zigzag pattern called a oil trend
Upwards oil trend - crude crude oil price moves upward in a oil trend then it retraces before resuming the upward oil trend direction
Downwards oil trend - crude crude oil price moves downward in oil trend direction & then retraces before resuming the downward oil trend direction.
What Does Oil Pullback Mean? A crude crude oil price pullback is a retracement of the crude crude oil price before the oil market resumes the original oil trend movement.
Oil Pullback Meaning and Oil Pullback Definition - Example of a Oil Pullback Pattern
What is Oil Pullback Meaning? - What Does Oil Pullback Mean?
Explanation of Oil Pullback Pattern
1-2: Oil Price Moves Up - Oil Trend Direction
2-3: Oil Price Pullback
3-4: Oil Price Moves Up - Oil Trend Direction
4-5: Oil Price Pullback
5-6: Oil Price Moves Up - Oil Trend Direction
The pullback definition of crude crude oil price is explained on the oil example above - this oil pullback represents a crude oil price pullback in an upward crude oil trend.
