Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 16	B	Strong	Up	Up	Down	58.82%
May 15	B	Strong	Up	Up	Down	58.82%
May 12	B	Strong	Up	Up	Down	58.82%
May 11	B	Strong	Up	Up	Down	60.71%
May 10	B	Strong	Up	Up	Down	58.82%
May 9	A	Strong	Up	Up	Up	51.69%
May 8	B	Strong	Up	Up	Down	56.07%
May 5	A	Strong	Up	Up	Up	50.84%
May 4	A	Strong	Up	Up	Up	32.35%
May 3	A	Strong	Up	Up	Up	53.41%