Well, after a few days of trying to figure out where the squeak was coming from I found it! IT was the right side chair rail! It happen to be caused by an overtightened bolt that mounts that chair rail to the floor. All I did was loosen it up a bit and voila... squeak gone!

It's funny how the smallest noise can just drive us crazy. Good job in finding it. Hopefully this will help others with squeak problems!!

Ahh good to know, i sprayed the metal parts of my right chair with wd40 and all it did was make the interior smell like oil. Silly me