Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Oct 28	F	Weak or Absent	Down	Down	Down	-19.40%
Oct 25	F	Weak or Absent	Down	Down	Down	-19.40%
Oct 23	F	Weak or Absent	Down	Down	Down	-22.19%
Oct 22	F	Weak or Absent	Down	Down	Down	-21.97%
Oct 21	F	Weak or Absent	Down	Down	Flat	-22.86%
Oct 18	F	Weak or Absent	Down	Down	Up	-24.58%
Oct 17	F	Strong	Down	Down	Up	-23.73%
Oct 16	F	Strong	Down	Down	Up	-22.86%
Oct 15	F	Strong	Down	Down	Up	-22.86%
Oct 11	F	Strong	Down	Down	Up	-22.86%