I feel like it's basically obvious that Arsenal is gone, they are not going to win the title. Don't get me wrong, they are still quite close to the top, and it could still happen, but I really do not think that they will overturn anything. They have lost two very crucial games that they needed to make six points, if they did, they would be 46 points, leader of the league, and also just one point ahead of Liverpool but four points ahead of third Aston Villa, so that would put some distance.
Also, not a lot of people talk about this, but Aston Villa, a team nobody saw coming all year long, is second with just three points difference from the leader. If Liverpool loses one game and Aston Villa wins, they are tied for leadership. I honestly did not see that coming.
Arsenal have been able to garner 40 points in their first 20 league games of the season and are just five points behind league leaders Liverpool who also have played the same number of games with Arsenal. A lot of people are of the opinion that the gunners are still very much in contention for the league title and that opinion I think is very much valid as there are more 17 league games to play.
That being said, I think it'll be a very difficult task for Arsenal to make that comeback and return at the top of the league table. The league leaders Liverpool are currently in the form of their lives and would do anything possible to remain their while reigning English Premier League champions Manchester City are also doing their best to fight back to the top and considering the fact that these two teams are better than Arsenal, it'll be very difficult for Arsenal to overtake them and move to the top of the league.