Predicting bottoms and tops is impossible. All we can do is speculate on what's going to happen next and how that is likely to affect the market?
We know Putin wants an oil crisis and has been planning this conflict (along with Iran and others) for months. Russia and China are also heavily invested in this oil crisis by stockpiling oil and and making it part of their Ukraine/Taiwan game plan.
So, we can expect that the Gaze conflict is not going to end when Israel enters Gaza and this could mark the beginning of a bigger conflict. Also, Egypt is not letting anyone out of Gaza - which suggests that the main game plan is still on.
So I reckon it is likely that there is more downside to come from this conflict. How things will playout is impossible to predict because Iran is both a wildcard and a loose canon in this conflict.
(20min delay)