Today, Wed 21-Dec-2016, the US official data from the US Energy Information Administration (EIA) will be released and is expected to show a further drawdown by 2.515 million barrels for the week ended December 16.
A follow through buying interest has the potential to continue boosting the commodity further towards $54.00 round figure mark above which a fresh bout of short-covering should lift it further towards 17-month high resistance near $54.50 region.

For those trading oil or the USD/CAD, it might be worth going long on oil or short USD/CAD
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