My dryer is making a high pitch squeeking noise

You likely have an idler wheel that is dry. The idler wheels are what supports the drum and allows it to turn freely. There may also be a belt tension problem. If the belt is too lose, it can slip on the motor, causing a squeal as well. First thing to do is pull the housing off, and see exactly where sound is coming from.

your dryer rotates counter clockwise and clockwise, to make it rotate it is driven by a motor and a belt, because of frequent use sometimes the belt are lossen it's elasticity, sometimes the bearing or bushing, yes it will still work but sooner it will suddenly stop and there is a possibility that may affect other parts, I suggest check it up, just open the back or sometimes the bottom where you can acces those parts, just remove the screw it you'll see there.