Pretty much this:
Resistance Minimum Possible Resist
128 10%
219 20%
340 30%
510 40%
765 50%
So with 128 resistance you will resist 10% of damage as minimum (24% chance), or RNG will get you better proc of resisted damage:
You will resist 20% of damage (49% chance)
You will resist 30% of damage (25% chance)
You will resist 40% of damage (<1% chance)
Each point of resistance will boost chance of higher resisted % of damage, and at some certain points you will start to have chance to get even higher resisted rolls, for example, at 235 you will start to have chance to resist 50% of damage(0.38% chance). At 219 you will no longer have 10% resist but minimum will be 20% resist, plus of coarse much higher chance to resist more damage.
So, I guess its best to push these "caps" to reliably boost amount of minimum resisted damage, however each bonus point still is good to boost chances to get higher resisted % of damage, 218 is still way better than 128. Look "Potential partial resist" table to see % chance of each possible amount resisted.
I hope this makes sense, that is what I understood of it all.