Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 3	A	Weak or Absent	Up	Up	Up	64.71%
Dec 30	A	Weak or Absent	Up	Up	Up	62.79%
Dec 29	A	Weak or Absent	Up	Up	Up	60.00%
Dec 28	A	Weak or Absent	Up	Up	Up	60.00%
Dec 23	A	Weak or Absent	Up	Up	Up	69.70%
Dec 21	A	Weak or Absent	Up	Up	Up	68.67%
Dec 20	A	Weak or Absent	Up	Up	Flat	73.91%
Dec 19	A	Weak or Absent	Up	Up	Down	75.00%
Dec 15	B	Weak or Absent	Up	Up	Flat	75.00%
Dec 14	A	Weak or Absent	Up	Up	Up	60.00%