Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 9	B	Weak or Absent	Up	Up	Up	-42.55%
May 8	B	Weak or Absent	Up	Up	Up	-40.66%
May 7	B	Weak or Absent	Up	Up	Up	-39.60%
May 6	B	Weak or Absent	Up	Up	Up	-39.73%
May 3	A	Weak or Absent	Up	Up	Up	-39.60%
May 2	A	Weak or Absent	Up	Up	Up	-39.87%
May 1	A	Weak or Absent	Up	Up	Up	-39.87%
Apr 30	A	Weak or Absent	Up	Up	Up	-37.50%
Apr 29	B	Weak or Absent	Up	Up	Up	-39.87%
Apr 26	B	Weak or Absent	Up	Up	Up	-38.64%