Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 4	C	Weak or Absent	Up	Up	Up	-20.35%
Dec 1	C	Weak or Absent	Up	Up	Up	-18.18%
Nov 30	C	Weak or Absent	Up	Down	Up	-13.74%
Nov 29	C	Weak or Absent	Up	Down	Up	-15.09%
Nov 28	C	Weak or Absent	Up	Down	Up	-13.18%
Nov 27	D	Strong	Up	Down	Down	-8.47%
Nov 24	D	Strong	Up	Down	Down	-11.48%
Nov 23	C	Strong	Up	Down	Down	-11.18%
Nov 22	C	Strong	Up	Down	Up	-12.90%
Nov 17	C	Strong	Up	Down	Up	-14.29%