Is it a bullish trend ?
weekly chart.
2011 - 2014 weekly candles.
I’ll adopt Livermore’s approach and say that currently the line of least resistance is up.
Would I buy now? - no, but I would consider a buy order below the market, then again I would have to weigh the reason(s) for the current selling and the past buying, why the spike up, why was it not sustained, why the large volume pre the spike and why the large volume in the past week.
Break the support area and then the line of least resistance becomes down.
Look to the right 
@pete …I am getting confused now…totally lost.
Would I buy now? - no, but I would consider a buy order below the market
below the market … where ? can you please mark my chart to show where you may buy ?
Also could you please explain …what you meant by this …
Break the support area and[B] then the line of least resistance becomes down.[/B]
not clear… [I]line of least resistance becomes down[/I] …how come ?
Apologies for being unclear.
Below the market - below current price.
The line of LEAST resistance.
In the olden days the term resistance meant an area where price encountered resistance. more recently we use the term resistance to only mean a price area which is higher, support being the opposite.
Livermore would look at his records and see where price previously encountered such ‘resistance’.
In your chart the nearest area of resistance is ‘support’, having hit there and hesitated then Livermore would wait and watch for the reaction, if price then starts to climb he would buy, in the line of least resistance- - the space where there is nothing to stop it.
Should price hesitate and drop through support, he would then sell, in the line of least resistance.
The very most right red candle tells the tale, see the area of higher lows to the left, break those and there has been a fundamental shift, a reason for selling, the line of least resistance are those lower wicks (price lows many weeks before.
I should also add that your question has a TA bias, the reality is that the chart could be of anything from the average rainfall in the Amazon Jungle to the number of pizzas I’ve eaten over my life time.
This is why I mention the need for context, I personally have to know the reasons, the why’s. It’s no good telling me that price did such and such, I need to know and understand the driving force.