Carlo Ancelotti believes that Chelsea have now overcome their Champions League exit, and can use that disappointment to their advantage to lift the Premier League title.

Earlier this week Arsenal manager Arsene Wenger suggested that the Blues' knockout defeat to Inter would allow the squad to remain fresher throughout the remainder of the domestic season, although it would also have had a sizeable negative effect on the side's confidence and form.

While Ancelotti acknowledges the logic of Wenger's view, he believes Wednesday's 5-0 win against Portsmouthshows that his squad is firmly back on track — in body and spirit.

"Mentally, it wasn't good for us to go out of the Champions League," Ancelotti told the press ahead of Saturday's game against Aston Villa.

"But after the victory against Portsmouth, this moment is finished. A good indication for the game was that we played 90 minutes well, with the ball on the floor and determination in our game."

Ancelotti believes Chelsea's opening strike — which saw Pompey 'keeper David James cruelly deceived by a bobble — is evidence that things are looking up for his side.

"We were a bit lucky, too, with the first goal, but that's a good thing. That means things are changing in our favour," he said.

Chelsea are currently a point behind Manchester United in the title race, with the Gunners another point further back. But while their rivals now have midweek Champions League quarter-final ties to contend with, the Blues will have more time to prepare for every big game to come.

"We have to look at every game," said the Italian. "We have tomorrow's game against Aston Villa, then a week to prepare for Manchester United, then a week to prepare for Villa in the FA Cup.

"That could be an advantage for us. Before, we had midweek games. We are disappointed to be out of the cup, but it could be an advantage.

"The quarter-finals will take out a lot of energy, not only physically but mentally, for both United and Arsenal. We can take advantage of that if we prepare well our own games, and if we play with good tempo, a good high tempo."

All things considered, Ancelotti believes Chelsea still have as good a chance as either of their rivals to end the season on top — despite their current position in the table.

"At this moment in the season to have one more point or one less point is not so important," he said.

"Every team - Arsenal, Manchester United and Chelsea - needs to win their games.

"If you are in good condition, mental and physical, you can win. So it's not more important to have one more or one less point. It's important to stay fit and have optimism and confidence to win the game."

Having said all that, Sir Alex Ferguson's side might just be marginal favourites.

"We have, now, a 33 per cent chance to win," Ancelotti said.

"Maybe Manchester United have 34 per cent."