Trend Table for GRZ - Gold Reserve Inc.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 25	B	Weak or Absent	Up	Up	Flat	-51.87%
Jul 24	C	Weak or Absent	Up	Down	Down	-50.18%
Jul 23	C	Weak or Absent	Up	Up	Down	-50.91%
Jul 22	C	Weak or Absent	Up	Flat	Down	-50.18%
Jul 18	C	Weak or Absent	Up	Up	Down	-50.91%
Jul 17	C	Weak or Absent	Up	Up	Down	-52.21%
Jul 16	C	Weak or Absent	Up	Up	Down	-52.21%
Jul 15	B	Weak or Absent	Up	Up	Up	-54.62%
Jul 12	C	Weak or Absent	Up	Up	Down	-51.87%
Jul 11	C	Weak or Absent	Up	Up	Down	-52.96%