If President Obama loses his bid for a second term next year what direction will the Democratic Party take politically? I mean since Obama and his supporters are from the liberal/left wing of the party
Stop there. Obama's biggest detractors within the Democratic party are from the left wing of the party.
If anything, Obama being defeated will lead Democrats to become more aggressive, disciplined, and liberal (though to a lesser extent than the Republicans have in the past few years, since there are far more moderates in the Democratic party than in the Republican party).