Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Sep 26	F	Weak or Absent	Down	Down	Down	-25.62%
Sep 25	F	Weak or Absent	Down	Down	Down	-25.21%
Sep 24	F	Weak or Absent	Down	Down	Down	-34.15%
Sep 23	D	Weak or Absent	Up	Down	Down	-42.43%
Sep 20	D	Weak or Absent	Up	Down	Down	-45.01%
Sep 19	D	Weak or Absent	Up	Down	Down	-45.45%
Sep 18	D	Weak or Absent	Up	Down	Up	-47.37%
Sep 16	C	Weak or Absent	Up	Flat	Up	-49.06%
Sep 13	D	Weak or Absent	Up	Down	Down	-44.56%
Sep 12	D	Weak or Absent	Up	Down	Down	-44.90%