Autoscaling Azure SQL Database

Question

We have an application that uses Azure SQL for the database backend. Under normal load/conditions this database can successfully run on a Premium 1 plan. However, during the

Answer 1

After digging through the articles in @ErikEJ's answer (Thanks!) I was able to find the following, which appears to be newly published with the release of the Elastic Scale preview:

Changing Database Service Tiers and Performance Levels

The following REST APIs are now newly available as well, which let you do pretty much whatever you want to your databases:

REST API Operations for Azure SQL Databases

And for my original question of scaling service tiers (ex. P1 -> P3 -> P1):

Update Database REST API

With these new developments I am going to assume it's only a matter of time before autoscaling is also available as a simple configuration in the Azure Portal, much like cloud services.