Find the missing term in the following series:
M, N, O, L, R, I, V, ?

In the above question, the pattern is, the given sequence is a combination of two series :
I. M, O, R, V, and II. N, L, I, ?
The pattern in I is
$latex M\xrightarrow{\text{+2}}O\xrightarrow{\text{+3}} R\xrightarrow{\text{+4}} V $
The pattern in II is
$latex N\xrightarrow{\text{-2}}L\xrightarrow{\text{-3}} I\xrightarrow{\text{-4}} \textcircled{E} $