Hate to burst your bubble even more...But if it's oxidizing, as you say it is, and it's below or above the paint, then all the wax in the world may not touch it (depends on the condition of the clear coat...if any)!

And the swirls (if this is the results of a previous power buff)...never, I repeat never let someone with a power buffer near your car if they don't know what they are doing. That is the reason I do my own power buffing. Power buffing can burn the paint with swirls in an AZ minute.

Good luck!