Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Feb 27	C	Weak or Absent	Up	Down	Flat	74.19%
Feb 24	C	Weak or Absent	Up	Down	Flat	73.08%
Feb 23	C	Weak or Absent	Up	Down	Down	74.19%
Feb 22	C	Weak or Absent	Up	Down	Down	74.19%
Feb 21	C	Weak or Absent	Up	Down	Down	74.19%
Feb 17	D	Weak or Absent	Up	Down	Down	74.19%
Feb 16	C	Weak or Absent	Up	Down	Down	74.19%
Feb 15	C	Weak or Absent	Up	Down	Down	74.19%
Feb 14	C	Weak or Absent	Up	Down	Down	74.19%
Feb 6	C	Weak or Absent	Up	Down	Down	74.19%