Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 18	B	Weak or Absent	Up	Up	Up	-25.41%
Dec 15	B	Weak or Absent	Up	Up	Up	-23.94%
Dec 14	B	Weak or Absent	Up	Up	Up	-22.64%
Dec 13	B	Weak or Absent	Up	Up	Up	-21.05%
Dec 12	B	Weak or Absent	Up	Up	Up	-20.12%
Dec 11	B	Weak or Absent	Up	Up	Down	-17.68%
Dec 8	B	Weak or Absent	Up	Up	Flat	-17.68%
Dec 7	B	Weak or Absent	Up	Up	Up	-18.43%
Dec 6	B	Weak or Absent	Up	Up	Up	-23.08%
Dec 5	C	Weak or Absent	Up	Up	Up	-23.08%