Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Nov 25	A	Weak or Absent	Up	Up	Up	86.67%
Nov 24	A	Weak or Absent	Up	Up	Up	86.67%
Nov 23	A	Weak or Absent	Up	Up	Up	86.67%
Nov 21	A	Weak or Absent	Up	Up	Up	86.67%
Nov 18	A	Weak or Absent	Up	Up	Up	86.67%
Nov 17	A	Weak or Absent	Up	Up	Down	94.44%