7 Answers

Hi. Apparently, the ring is called a 'moonbow', like rainbow but on the moon. Hope this helps:

http://home.hiwaay.net/~krcool/Astro/moon/moonring/

I believe it's a form of ice crystals formed but from where I do not know. But, it does mean rain soon.

"Witches Moon"

it is the same process as a regular rainbow, the difference is that the light of the moon is weaker than the sun (of course) so it appears usually as a white circle to the human eye except when the light of the moon is stronger than the refraction is also stonger and then you may see more colors

Fog hangs out with the moon some nights.

I never heard about the rain, but that is cool and so is moonbow. I have heard it ment a change in the wheather.

I've always been told that if you see a ring around the moon it means there will be rain the next day
MOST of the time when I have noticed them, it has been correct hence the name moon bow.