Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 5	B	Weak or Absent	Up	Up	Up	-26.23%
Jan 4	C	Weak or Absent	Up	Up	Down	-24.37%
Jan 3	B	Weak or Absent	Up	Up	Up	-27.42%
Jan 2	B	Weak or Absent	Up	Up	Up	-27.22%
Dec 29	B	Weak or Absent	Up	Up	Up	-27.03%
Dec 28	B	Weak or Absent	Up	Up	Up	-23.73%
Dec 27	B	Weak or Absent	Up	Up	Up	-24.79%
Dec 21	B	Weak or Absent	Up	Up	Up	-23.73%
Dec 20	B	Weak or Absent	Up	Up	Up	-23.73%
Dec 19	B	Weak or Absent	Up	Up	Up	-23.73%