Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 19	B	Weak or Absent	Up	Up	Up	-34.31%
Jan 18	A	Weak or Absent	Up	Up	Up	-34.78%
Jan 17	A	Weak or Absent	Up	Up	Up	-31.99%
Jan 16	B	Weak or Absent	Up	Up	Up	-30.95%
Jan 15	B	Weak or Absent	Up	Up	Up	-29.87%
Jan 12	B	Weak or Absent	Up	Up	Up	-31.99%
Jan 11	B	Weak or Absent	Up	Up	Up	-29.13%
Jan 10	B	Weak or Absent	Up	Up	Up	-30.23%
Jan 9	B	Weak or Absent	Up	Up	Up	-28.76%
Jan 8	B	Weak or Absent	Up	Up	Up	-30.05%