1. A method for forecasting future link utilization demand between a pair of points of presence in an IP network based upon prior link utilization between those points of presence, the method comprising: modeling the prior link utilization using wavelet multiresolution analysis; identifying an approximation curve from the wavelet multiresolution analysis of the prior link utilization that reflects the long-term trend of the link utilization; constructing at least one linear time series model of the approximation curve; and forecasting future link utilization demand using one of the at least one linear time series models of the approximation curve.