The Hoops held Rangers to a 0-0 draw at Ibrox yesterday to sit one point behind the reigning Scottish champions with a game in hand and Smith concedes that his Glasgow rivals are now in a better position to take the title back to Parkhead.
"It puts Celtic in a position that we would want to be in. I think anybody would want to be in that position," Smith said.
"You still have to close it out and win your games and we have to continue to win our matches and see what happens.
"There have been points dropped in the last half-dozen games or so over the last few seasons. So we just have to wait and see what happens in that respect."