Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Nov 14	D	Strong	Down	Down	Up	0.00%
Nov 12	F	Strong	Down	Down	Down	8.87%
Nov 11	F	Strong	Down	Down	Down	9.76%
Nov 8	F	Strong	Down	Down	Down	31.07%
Nov 7	F	Strong	Down	Down	Down	31.07%
Nov 6	F	Strong	Down	Down	Down	31.71%
Nov 5	F	Weak or Absent	Down	Down	Down	23.85%
Nov 4	F	Weak or Absent	Down	Down	Down	1.89%
Oct 30	F	Weak or Absent	Down	Down	Down	-15.63%
Oct 29	F	Weak or Absent	Down	Down	Down	-18.18%