LE MANS, France, May 22 - Five-times MotoGP champion Valentino Rossi believes he is still in with a chance of winning the world title despite being forced to retire at the French Grand Prix at the weekend.

The Italian Yamaha rider looked set for victory on the Bugatti circuit for the second year in succession but a blown engine eight laps from the finish left him empty-handed.

Compatriot Marco Melandri, riding a Honda, powered to victory, while Rossi dropped to eighth in the standings and 43 points behind American pacesetter Nicky Hayden after five races.

"Of course it was a difficult day," said Rossi, who has dominated the top category for the past five years.

"It's tough because I could have reduced the gap with the top drivers."

However, the 27-year-old London-based Rossi said he was satisfied with his bike.

"But from a technical point of view, I'm happy because the bike's set-up is okay now," he added.

Rossi was using a new chassis after suffering vibration problems during the China GP, which he could not finish.

"So it's good news for the next race where I think a podium finish is really possible."

EVERYTHING POSSIBLE

Rossi will start among the favourites in two weeks time at his home Grand Prix at the Mugello, along with Melandri and Loris Capirossi, who steered his Honda to second place ahead of rising star Dani Pedrosa of Spain.

"I think that for the end of the championship everything remains possible," said Rossi.

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