blotches--oxidation?

Hi everyone,
We have a 2010 BH that I have always waxed with a polimer about 2 times/year. However it is starting to get small blotches on the surface, like the wax is still there and not coming off. Is that some form of oxidation? and what do you recommend to fix the issue. I tried a few pictures but it does not show the small blotches, just a lack of shine in that area.
thanks
al

Just a thought, but have you tried stripping off the old wax layer and starting again with the base coat?