Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 13	A	Weak or Absent	Up	Up	Up	71.78%
Dec 12	A	Weak or Absent	Up	Up	Up	69.70%
Dec 8	A	Weak or Absent	Up	Up	Up	73.91%
Dec 6	A	Weak or Absent	Up	Up	Up	73.91%
Dec 5	A	Weak or Absent	Up	Up	Up	77.22%
Dec 2	B	Weak or Absent	Up	Up	Up	83.01%
Dec 1	B	Weak or Absent	Up	Up	Up	83.01%
Nov 30	B	Weak or Absent	Up	Up	Up	83.01%
Nov 29	A	Weak or Absent	Up	Up	Up	87.92%
Nov 28	B	Weak or Absent	Up	Up	Down	94.44%