Squeeling when Coasting

[RWJ1]

2000 Softail FXST, 10000 miles

I'm getting a little concerned about the squeeling noise coming from my bike when I let off the throttle and coast with the bike in gear. Its loud and very annoying and only happens when I am coasting like when approaching a red light and the bike is in gear, when I am giving it any throttle at all, even the littlest bit, no noise at all, but just let off of the throttle and "Squeeeeeelllllll." Also If I engage the clutch, no squeel, let the clutch go, major squeel, only when coasting though, give it as little gas, no squeel.

Its seems to be getting louder the more I ride, I'm very concerned, Any ideas?

Thanks!
RWJ1