The piece is divided into two halves, with the final section of both the first and second halves serving as the peak point. Considering only modulations without harmonic sequences, the piece modulates to three keys: D minor, F major, and A minor. The first half begins in D minor, reaches a cadence in F major at measure 10, and modulates to A minor from measures 13 to 15, concluding the first half with a Picardy third in A minor. This section is characterized by high tension. However, this Picardy third in A minor also functions to evoke the dominant of D minor.

The second half begins in D minor and immediately modulates to a gentle F major. From measure 33, chords enter on the first beat, initiating an ascending sequence that reaches its peak at measure 38.

Performers should grasp this entire progression and apply dynamics accordingly. Allowing D minor to proceed rigorously and F major gently will ensure a smooth musical flow.