There’s an old weather saying: ring around the moon means rain soon. There’s truth to this saying, because high cirrus clouds often come before a storm. Notice in these photos that the sky looks fairly clear. After all, you can see the sun or moon. And yet halos are a sign of high thin cirrus clouds drifting 20,000 feet or more above our heads.(Also info on 22 degree halos here.)
These clouds contain millions of tiny ice crystals. The halos you see are caused by both refraction, or splitting of light, and also by reflection, or glints of light from these ice crystals. The crystals have to be oriented and positioned just so with respect to your eye, in order for the halo to appear.
Because moonlight isn’t very bright, lunar halos are mostly colorless, but you might notice more red on the inside and more blue on the outside of the halo. These colors are more noticeable in halos around the sun. If you do see a halo around the moon or sun, notice that the inner edge is sharp, while the outer edge is more diffuse. Also, notice that the sky surrounding the halo is darker than the rest of the sky.
Interestingly enough, there is rain forecast for Wednesday, two days from now. :)