I am inclined to believe that it is a dead cat bounce, simply because there is more pain to come.

Seeing reports, there are strong claims that Ali Khamenei's son is highly likely to become the next supreme leader (Mojtaba). Reports state that he is a hardliner, likely worse than his father, and this fact will instill more discomfort in Israel and Usa. This will push the pair to try to further pummel Iran into compliance with likely with more violence.

Why more force? With the fact that Iran's attempt to expand the crisis into wider swathes of the middle east (with missiles and drones), as an attempt to push the other countries to pressure Usa to stop the war. Usa will see that they have to force the issue to prevent the new Khamenei from taking over and yet end the war, they will look to bombard Iran with more force and it will be a vicious cycle.

With that logic, things will likely get worse and it will have consequences for all markets.