Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Apr 25	B	Weak or Absent	Up	Up	Up	-36.47%
Apr 24	D	Weak or Absent	Up	Down	Flat	-32.50%
Apr 23	D	Weak or Absent	Up	Down	Down	-30.95%
Apr 22	D	Weak or Absent	Up	Down	Down	-32.50%
Apr 19	D	Weak or Absent	Up	Down	Down	-32.33%
Apr 18	D	Weak or Absent	Up	Down	Down	-32.50%
Apr 16	C	Weak or Absent	Up	Up	Up	-35.71%
Apr 15	D	Weak or Absent	Up	Down	Up	-33.82%
Apr 12	D	Weak or Absent	Up	Down	Down	-32.50%
Apr 11	D	Weak or Absent	Up	Down	Down	-32.16%