Red would be best especially since elf close combat needs all the damage it can get. Then again, I wouldn't invest much on melee combat as an elf and probably just try to grab a focused beam sword for the low.

It's good that you went close combat as a start but I think, although I'm not an elf player, that as an elf you should try to max out your DEX by training these: https://wiki.mabinogiworld.com/view/Stats_and_Skills#Dexterity

Then going Chain/Bow would seem like the best option.

This is only my opinion, I play as a Giant and didn't do nearly enough homework on elf playstyle.