The term back months refers to any set of futures contracts for a given commodity that expire in a month that is different than the front month. Futures contracts will have a number of dates in the future during which contracts will expire.
Explanation
Also referred to as deferred months, distant months, and forward months, the back months for a given commodity are those contracts that expire in a month other than the front month, which is the next futures contract to expire. The settlement price specified on a futures contract for a back month may be the same as that of the front month; however, since the back month contract has a longer timeframe to expiration, it will likely trade at a different price.
The term breakaway gap refers to a significant gap appearing in the historical price chart of a security. Breakaway gaps signal the beginning of a new price pattern.
The term blow off top refers to extraordinarily high trading volume in a single session that is associated with the end of an upward price trend. A blow off top can be seen in charts, and is used by technical analysts to predict price trends.
The term blow off bottom refers to extraordinarily high trading volume in a single session that is associated with the end of a downward price trend. A blow off bottom can be seen in charts, and is used by technical analysts to predict price trends.
The term front month refers to the expiration month of an active futures contract with the shortest time to maturity. The front month of a futures contract will vary with the contract's underlying asset.