The value structure of Leopoldo Metlicovitz is mid-key: quiet, controlled, and cohesive. Blues and teal-greys govern the palette, lending it an aquatic or atmospheric quality. Mid-range chroma keeps the palette grounded - colourful but not strident. The highest-chroma note - #3F160C - appears at just 2.8%, deployed as a precision accent against the quieter ground. At 78 units of value range, the palette has the tonal breadth to sustain complex spatial readings. The mid-to-high key, cool bias, and moderate chroma point to outdoor observation - sky and diffused daylight as the dominant light source. This is palette 5 of Leopoldo Metlicovitz's sequence - a single chapter in a chromatic story told across many works.