Agree, depending on the time-frame used, we are overbought.
Are you mainly trading short term?
Longer term, we are well off the Dec lows and seem to have built some momentum.
I agree it's overbought for day traders looking for a 25 cent move but it doesn't look like a terrible place to accumulate if you believe the palladium story and plan to hold (the bag).
Also many consider the current extremely negative sentiment about miners in general to be ultimately bullish.
I don't think the downside risk is a compelling reason not to buy.
This can turn on a dime; I've seen it happen before.