Definition of dip:

part of speech: noun

Inclination downwards; depression; in geol., the inclination or angle at which strata slope downwards into the earth- the word rise is used as the opposite of dip; in magnetism, downward inclination of the magnetic needle; a candle made by dipping the wick in tallow.

part of speech: verb

To put into water for a brief time and then to withdraw; to plunge into a liquid for a moment; to take out, as with a ladle; to sink; to look slightly into, or here and there, as into a book; to incline downwards.

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The loadstone, which has the property of attracting iron, and of pointing to the poles when freely suspended; a bar of steel, to which the properties of the loadstone are imparted by contact; any piece of iron rendered powerfully attractive by a galvanic current; any powerful attraction. ...